Buy Orient Cement; target of Rs 174: Anand Rathi

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26 Aug, 2025 12:21

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Anand Rathi's research report on Orient Cement

Though good infrastructure demand boosted Orient Cement’s Q3 volume growth, high input costs curbed its operating performance. While cement capacity expansion continues to be delayed, the falling fuel cost benefit will be visible post-May’23. Cost savings from the 10MW WHRS, more government spending on infra and the firm B/S are positives.

Outlook

We retain a Buy rating on the stock, with a lower target price of Rs.174 (earlier Rs.176) on 7.5x FY25e EV/EBITDA.

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Orient Cement - 07 -02 - 2023 - anand