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HomeNewsBusinessStocksBuy Dalmia Bharat; target of Rs 2250: Sharekhan

Buy Dalmia Bharat; target of Rs 2250: Sharekhan

Sharekhan is bullish on Dalmia Bharat has recommended buy rating on the stock with a target price of Rs 2250 in its research report dated March 27, 2023.

March 28, 2023 / 15:33 IST
Buy
     
     
    26 Aug, 2025 12:21
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    Sharekhan's research report on Dalmia Bharat

    The company announced divestment of its refractory business to promoter group entity for Rs. 800 crore, valuing at ~24x EV/EBITDA. Post-tax profit of Rs. 348 crore from the transaction to be accounted in FY2023. Proceeds from the sale of the refractory business, redemption of NCDs in Hippo Stores, and expected divestment of the balance 15% stake in IEX to aid in financing its growth plans. The company remains committed to achieving 75 MT and 110-130 MT cement capacities by FY2027 and 2031, while it would reach 54 MT cement capacity by FY2024, exceeding 49 MT target. Net Debt to EBITDA to remain below 2x.

    Outlook

    We maintain our Buy rating on Dalmia Bharat with an unchanged PT of Rs.2,250, considering its strong growth potential led by capacity additions.

    For all recommendations report, click here

    Disclaimer: 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.

    Dalmia Bharat - 28 -03 - 2023 - khan

    Broker Research
    first published: Mar 28, 2023 03:33 pm

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