JK Cement Q2 Results Review - Muted QoQ; Fair Valuation; Maintain 'Sell': Dolat Capital

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Dolat Capital Report.JK Cement Ltd.’s Q2 FY25 volume/revenue/realisation came in-line, however Ebitda, Ebitda/tonne and adjusted profit after tax were below estimates. We expect revenue/Ebitda/APAT CAGR of 8.6%/13.0%/16.9% over FY24-27E led by 5.1%/9.3%/15.7% blended volume growth and -3.2%/ +0.9%/-1.4% blended realization growth in FY25E/FY26E/FY27E. We maintain a positive outlook on JK Cement due to-its continuous capacity addition,healthy cash generation and strong RoE..However, we have decreased our FY25E/FY26E Ebitda estimates by -8.4%/-5.9%, post factoring lower blended volume coupled with higher opex/tonne, while also introducing FY27E. The current market price factors most of the positives. Accordingly, we maintain our ‘Sell’ rating with revised target price of Rs 4,140 based on 12 times consolidated FY27E enterprise value/Ebitda + 50% FY27E capital work-in-progress..Click on the attachment to read the full report:.Maruti Suzuki, LIC Housing Finance, SBI Cards, JK Cement, Symphony And More Q2 Review: HDFC Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

JK Cement Q2 Results Review - Muted QoQ; Fair Valuation; Maintain 'Sell': Dolat Capital

The current market price factors most of the positives, says the brokerage.

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JK Cement Q2 Results Review - Muted QoQ; Fair Valuation; Maintain 'Sell': Dolat Capital

The current market price factors most of the positives, says the brokerage.

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