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Buy Ramco Cements; target of Rs 1200: ICICI Direct

Buy Ramco Cements; target of Rs 1200: ICICI Direct
August 05
20:24 2021

ICICI Direct is bullish on Ramco Cements has recommended buy rating on the stock with a target price of Rs 1200 in its research report dated July 28, 2021.

Broker Research

August 05, 2021 / 10:50 AM IST

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ICICI Direct’s research report on Ramco Cements

Ramco Cements is the dominant player in South India with cement capacity of 19.7 MT spread across Tamil Nadu, Karnataka, Andhra Pradesh, Odisha and West Bengal. In terms of sales, south contributes ~71% of sales while east contributes 24%, which is served via grinding units in WB (2 MT) and AP (2 MT). The company also has a windmill capacity of 125.95 MW, captive thermal power plants of 175 MW and 18 MW of WHRS Self-reliance on power, split grinding units near markets and focus on green power has helped the company to remain a cost efficient player in South India

Outlook

Post completion of major capex, debt levels would peak out with growth accelerating at revenue CAGR of 20%. Hence, we maintain BUY rating We value Ramco at Rs 1,200 i.e.15x FY23E EV/EBITDA

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.

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