Sharekhan has given Buy with an unchanged price target (PT) of Rs recommendation for Dalmia Bharat with a target price of Rs. ekhan is bullish on Dalmia Bharat has recommended buy with an unchanged price target (PT) of Rs. 2,601 in its research report issued on Oct 28, 2021

Outlook

Dalmia Bharat has addressed its medium and long-term growth plans through its decadal capital allocation plan, which would ensure a more predictable, sustainable, and profitable growth path going ahead. The company would be focusing on achieving 14-15% RoCE over the next few years and maintain its balance sheet quality. Dalmia is currently trading at an EV/ EBITDA of 12x/10x its FY2023E/FY2024E earnings, which we believe leaves room for further upside, considering its strong earnings growth trajectory over the next three years. Hence, we retain Buy with an unchanged price target (PT) of Rs. 2,601.

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