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Anand Rathi Report
While the weak demand-pricing situation hurt its overall performance, resulting in revenue/Ebitda falling 9.2%/12.8% YoY, low fuel costs restricted Prism Johnson Ltd. Q1 cement Ebitda/tonne fall.
Volume growth would be limited as the company is operating at high capacity.
Its focus on raising the share of green energy would help save costs. We retain our Hold, at a higher 12-month target price of Rs 178 (earlier Rs 155).
Risks: Rise in petcoke/diesel prices, demand slowdown.
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