Anand Rathi's research report on Star Cement
The Meghalaya clinker-unit stabilisation along with the better demand-pricing environment in its operating region (East/North east) aided Star’s overall performance. Targeting 18-20m-tonne capacity by FY30, the ongoing expansion would take capacity to 11.7m tonnes. A higher RE share, rise in operating efficiency and incentives (on new capacity), etc. would help.
Outlook
We retain our Buy rating, at a higher 12-mth TP of Rs 275 (earlier Rs270), 12x FY27e EV/EBITDA.
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