Motilal Oswal has given Buy on the stock with a revised price target recommendation for J K Lakshmi Cement with a target price of Rs. lal Oswal is bullish on J K Lakshmi Cement has recommended buy on the stock with a revised price target (PT) of Rs. 675 in its research report issued on Feb 03, 2022
We increase our FY22E EBITDA by 5%, which leads to an EPS increase of 7%. Our FY23E/FY24E estimates are largely intact. JKLC has announced its expansion plans in the northern region through its subsidiary Udaipur Cement Works (UCWL). It has also been awarded two limestone mines (Rajasthan and Gujarat), which would help it grow further. Given the reasonable valuation (7.1x FY23E EV/EBITDA) and growth visibility from the announced expansion plan, we maintain our Buy rating.