Anand Rathi has given Buy recommendation for Orient Cement with a target price of Rs. 240 in its research report issued on Oct 27, 2021
Anand Rathi’s research report on Orient Cement
Amid the high-cost milieu and heavy monsoon, Orient’s performance was good with revenue/EBITDA/ PAT growing 28%/18%/63% y/y on a favourable base. While delevering continues, the announced expansion will give volume growth a fillip. Cost optimisation measures, a rake-handling system, the WHRS setup and solar power are positives.
We retain our Buy rating, with a higher target of Rs.240 (earlier Rs.220).