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    Hold The Ramco Cements, target price Rs 1175: Emkay Global

    Synopsis

    The Ramco Cements Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 24258.92 Crore) operating in Cement sector.

    Ramco CementShutterstock.com
    Promoters held 42.5 per cent stake in the company as of June 30, 2021, while FIIs held 8.6 per cent, DIIs 22.3 per cent and public and others 26.5 per cent.
    Emkay Global has hold call on The Ramco Cements with a target price of Rs 1175. The current market price of The Ramco Cements is Rs 1028.5. Time period given by analyst is one year when The Ramco Cements Ltd. price can reach defined target.

    The Ramco Cements Ltd., incorporated in the year 1957, is a Large Cap company (having a market cap of Rs 24258.92 Crore) operating in Cement sector.

    Financials
    For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1239.99 Crore, down -24.46 % from last quarter Total Income of Rs 1641.53 Crore and up 17.34 % from last year same quarter Total Income of Rs 1056.79 Crore. Company reported net profit after tax of Rs 170.02 Crore in latest quarter.

    Investment Rationale
    Factoring in higher realization, the brokerage increases FY22-23 EBITDA estimates by 5-9%. It rolls forward to Sep’22E (from Jun’22E) and increase TP by 15% to Rs 1,175 (from Rs1,020). Its DCF-based TP (11.25% WACC, 7.5% FCFF growth post FY26) implies a 1-year forward EV/EBITDA of 13.5x (vs. 15x currently).

    Promoter/FII Holdings
    Promoters held 42.5 per cent stake in the company as of June 30, 2021, while FIIs held 8.6 per cent, DIIs 22.3 per cent and public and others 26.5 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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