Arihant Capital's research report on The Ramco Cement
For the quarter ended Dec, 2016, company reported a rise in revenue by 35% to Rs 1,111 cr vs. Rs 821 cr in the corresponding quarter of previous year. Company reported sales volume at 19.88 lac tonnes vs. 16.26 lac tonnes registering an improvement in the off-take of cement by about 22% during the quarter under review, compared to the corresponding quarter of the previous year.
Outlook
We have valued stock on EV/EBITDA of 12.5 FY18 estimates and have arrived at a fair value of Rs 726 per share. At CMP of Rs 681 the stock is available at FY18E P/E(x) and EV/EBITDA(x) of 18.7(x) and 11.8(x) respectively. We have rating on the stock.
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