Anand Rathi 's research report on Orient Cement
The lockdown hurt Orient’s overall performance with revenue/ EBITDA/PAT falling 40%/34%/54%; EBITDA/ton rose on higher realisations, cost savings and lower volumes. The expansion plan is still on hold with management’s greater focus on conserving cash and reducing debt. Institutional demand is expected to improve; sudden local lockdowns, however, will be a concern.
Outlook
We retain our Buy rating, with a higher target of `87 (earlier `65).
For all recommendations report, click here
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