Stocks

JK Cements stocks: Buy JK Cement, target price Rs 2920: Axis Securities

Axis Securities has buy call on with a target price of Rs 2920. The current market price of . is Rs 2588.9. JK Cement Ltd., incorporated in the year 1994, is a Mid Cap company (having a market cap of Rs 20022.14 Crore) operating in Cement sector.

JK Cement Ltd. key Products/Revenue Segments include Cement and Other Operating Revenue for the year ending 31-Mar-2022.

Financials

For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 2287.31 Crore, down -4.42 % from last quarter Total Income of Rs 2392.98 Crore and up 31.34 % from last year same quarter Total Income of Rs 1741.47 Crore. Company reported net profit after tax of Rs 160.86 Crore in latest quarter.

Investment Rationale
With expanded capacity, better pricing increased demand and cooling off in commodity prices the brokerage expects JKCL to report Revenue/EBITDA/APAT CAGR of 14%/15%/11% respectively over FY21-FY24E. Stock is currently trading at 16x and12x FY23E/FY24E EV/EBITDA.

Promoter/FII Holdings
Promoters held 45.84 per cent stake in the company as of 30-Jun-2022, while FIIs owned 16.08 per cent, DIIs 21.07 per cent.

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