Anand Rathi 's research report on Ramco Cements
Despite constrained demand in its operating region, high realisations and cost savings drove Ramco’s operating performance to its highest quarterly EBITDA. The WHRS/railway siding expansion would restrict rising cost pressure. Further, the ongoing capacity expansion will diversify its regional operations. It is set to reap the benefit of demand revival. Management’s focus on de-levering, post-expansion, will be the key positive.
Outlook
We maintain our Buy rating, with a higher target price of Rs940 (earlier Rs777).
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