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    HomeNewsBusinessStocksHold JK Cement; target of Rs 1025: Axis Direct

    Hold JK Cement; target of Rs 1025: Axis Direct

    Axis Direct recommended hold rating on JK Cement with a target price of Rs 1025 in its research report dated May 23, 2017.

    June 09, 2017 / 10:55 IST
       
       
      26 Aug, 2025 12:21
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      Axis Direct's research report onJK Cement

      Grey cement volumes declined 2% YoY. Average realization increased Rs 60/ton QoQ at Rs 3,780/ton. Average cost/ton was flat. Power & fuel cost was marginally up 4% QoQ. Grey cement EBITDA/ton was Rs 510 (vs. Rs 450 in Q3FY17). White cement business EBITDA at Rs 1,030 mn (flat YoY). White cement and putty volumes were up 5% YoY at 290 KT.

      Outlook

      We roll over the target price to FY19 and value the company at 9x EV/EBITDA. Our revised target price stands at Rs 1,025 (8% downside from CMP of Rs 1,118) and, we maintain HOLD rating. We revise our EPS estimates for FY18E/19E to Rs 44/62 (Rs 38/55 earlier) mainly due to higher volume assumptions.

      For all recommendations, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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      first published: May 26, 2017 05:04 pm

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