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Last Updated : Aug 10, 2018 04:24 PM IST | Source: Moneycontrol.com

Hold JK Lakshmi Cement; target of Rs 339: Geojit

Geojit Research recommended hold rating on JK Lakshmi Cement with a target price of Rs 339 in its research report dated August 07, 2018.

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Geojit's research report on JK Lakshmi Cement


JK Lakshmi Cement (JKLC) is part of JK group mainly focused in North, West and Eastern regions of India with a consolidated capacity of 12.5MT. Q1FY19 revenue grew mere 2.5%YoY due to flat growth in volumes and 2.5% YoY growth in realisation. Low realisation was due to pricing pressure witnessed in North in the non-trade segment and the competition impacted volumes also.


Outlook


Factoring continued pressure in volumes and cost, we downgrade our rating to Hold (from Buy) by valuing at EV/EBITDA of 9x for standalone and arrive at a target of Rs339 (earlier Rs.418).


For all recommendations report, click here


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First Published on Aug 10, 2018 04:24 pm
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