JK Cement Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for JKCEMENT, BSE:532644 JK Cement Ltd.

JK Cement Ltd.

02 Sep 2020

7051.00

2.36%

Capacity-led volume growth to drive earnings

Buy: JK Cement Ltd.

Target

Motilal Oswal

2 September 2020 J K Cement (JKCE)s 1QFY21 result highlights market share gains for the company, led by ~50% capacity expansion in North India. While we raise our FY21E EPS by 10% to factor lower fixed costs, our FY22 estimates are largely unchanged. We reiterate on a 17% EPS CAGR over FY2022E, driven by capacity-led volume growth. 1QFY21 revenue/EBITDA/PAT at INR9.7b/INR2.2b/INR0.8b was down 27%/ 29%/ 49% YoY and was +2%/ +29%/ +57% against our estimate. Volumes declined for grey cement (incl. Total volumes fell 24% YoY to on a higher proportion of grey cement (90% v/s 85%) in the sales mix. Total cost per ton declined 4% YoY (flat QoQ) to INR4,245/t and was 6% beat on our estimate due to a 27% YoY fall in other expenses from lower fixed overheads. However, decline was partly offset by negative operating leverage and the consumption of higher cost petcoke inventory.

JK Cement Ltd. has gained 66.40% in the last 1 Year

JK Cement Ltd.

02 Sep 2020

7051.00

2.36%

J. K. Cement

Accumulate: JK Cement Ltd.

Target

Dolat Capital

JKCE posted muted set of numbers with 27.3%/ 29.1%/ 49.5% YoY degrowth in revenue/ EBITDA/ PAT to Rs9.6 bn/ Rs2.2 bn/ Rs777 mn in Q1FY21 due to 5.1% YoY de-growth in blended realization (-1.4% QoQ) coupled with 23.5% YoY decline in blended volume to 1.77 mt. We expect 10.5%/ 81%/ 0.7% revenue/ EBITDA/ APAT CAGR over FY2022E led by 6.6%/ 13.8% blended volume growth and (1.2%)/ 1.7% blended cement realization growth in FY21E/ FY22E. We increase our revenue and APAT estimates by 9.6%/ 5.1% and 24.9%/ 8.2% for FY21E/ FY22E factoring Q1FY21 results. We broadly maintain our EBITDA margin estimates. We like JKCE because of its...

JK Cement Ltd. is trading above all available SMAs

JK Cement Ltd.

03 Aug 2020

7051.00

2.36%

Pick of the Week:03 AUG 2020

Buy: JK Cement Ltd.

Axis Direct

A leading cement manufacturer in the country, JK Cement Ltd is an affiliate of the multi-disciplinary industrial conglomerate JK Organization, which was founded by Lala Kamlapat Singhania. The Company has over four decades of experience in cement manufacturing.

JK Cement Ltd. has an average target of 6168.00 from 8 brokers.

JK Cement Ltd.

23 Jul 2020

7051.00

2.36%

J. K. Cement

Accumulate: JK Cement Ltd.

Recommendation Target

Dolat Capital

JK Cement in its FY20 annual report, highlights about growing together and staying ahead of the curve. JK Cement has posted a strong all round performance in a challenging year and a challenging external environment that was dampened by the Covid-19 pandemic. The company was able to demonstrate such growth driven by resource efficiency, expanding capacities, growing prominence across urban and rural markets. The company continuously improves resource efficiency in clinker and cement production process by optimizing energy usage, utilizing generated waste...

Axis Direct downgraded JK Cement Ltd. to Hold with a price target of 6530.0 on 22 Jul, 2025.

JK Cement Ltd.

21 Jul 2020

7051.00

2.36%

Initiating Coverage:J K Cements

Buy: JK Cement Ltd.

Target

Axis Direct

We initiate coverage on JK Cement Ltd with a BUY recommendation and a Target Price of Rs 1697, which implies 19% upside from the current levels.

Axis Direct downgraded JK Cement Ltd. to Hold with a price target of 6530.0 on 22 Jul, 2025.

JK Cement Ltd.

22 Jun 2020

7051.00

2.36%

EARNINGS UPDATE-JK CEMENT 4QFY20

Buy: JK Cement Ltd.

Recommendation Target

Chola Wealth Direct

Background: JK Cements is one of the largest cement players in North India. It manufactures grey cement, white cement and white cement-based wall putty. Currently the grey cement capacity is 10.5MTPA. Domestic white cement capacity is 0.6MTPA (second only to UltraTech). The company also manufacturers putty and has an installed capacity of 0.7MTPA. The company also has plants in Fujairah (UAE) with an installed capacity of 0.6MTPA (white cement) and 1.02MTPA (grey cement) in a 90:10 JV with the Government of Fujairah. It has also expanded its grey cement capacity by 3 MTPA through two split grinding units (1.5 MTPA...

JK Cement Ltd. has gained 39.31% in the last 3 Months

JK Cement Ltd.

19 Jun 2020

7051.00

2.36%

JK Cement

Hold: JK Cement Ltd.

Recommendation Target

ICICI Securities Limited

JK Cement reported better-than-expected Q4FY20 numbers, beating our estimates on the operational front. Revenues broadly stayed flat YoY at | 1,477 crore (I-direct estimate: | 1,433 crore). Suspension of operations in end-March led to a 7.3% drop in volume YoY to 2.67 MT (in line with I-direct estimate). Blended realisations grew 6.8% YoY to | 5,533/t (I-direct estimate: | 5,393/t). Higher realisations drove EBITDA margin expansion of 470 bps YoY to 23.4% (I-direct estimate: 21.3%). EBITDA/t jumped 33.6% YoY to | 1,297/t (I-direct estimate: | 1,148/t); EBITDA increased 24% YoY to | 346...

JK Cement Ltd. has gained 66.40% in the last 1 Year

JK Cement Ltd.

20 Mar 2020

7051.00

2.36%

JK Cement- 3QFY20 Result Update

Buy: JK Cement Ltd.

Reliance Securities

Robust Performance on Steady Realisation & Cost Benefits JK Cement (JKCE) continued to report a strong set of numbers in 3QFY20 amid challenges as its reported EBITDA grew by a strong 42% YoY to Rs2.78bn broadly in-line with our estimate. Unitary EBITDA for grey cement stood at Rs770 vs. Rs433 in 3QFY19 and Rs824 in 2QFY20. While sales volume of grey cement, including clinker, grew by 3.5% YoY, average realisation came in at Rs4,355/tonne (+10% YoY and -2.5% QoQ) broadly in-line with our estimate. Operating cost/ tonne declined by 1.5% QoQ to Rs4,404 despite sequential rise in input cost. JKCE noted that continued high cost of fuel inventory from RIL did not let the benefit of lower fuel prices reflect in...

JK Cement Ltd. is trading above all available SMAs

JK Cement Ltd.

18 Mar 2020

7051.00

2.36%

JK Cement- 3QFY20 Result Update

Buy: JK Cement Ltd.

Target

Reliance Securities

JK Cement Ltd. has an average target of 6168.00 from 8 brokers.

JK Cement Ltd.

12 Feb 2020

7051.00

2.36%

JK Cement (3QFY20): Sparkling performance continues. Maintain BUY

Buy: JK Cement Ltd.

Target

HDFC Securities

We reiterate BUY with a higher TP of Rs 1,654, valuing it at 10x Sep'21E consol EBITDA (in-line its 5-yr mean multiple). We like the co for its increased presence in the robust north market (grey biz) and for its steady growth in the white/putty segment. Its balance sheet remains under control (net Debt/EBITDA at ~2x in FY21-22), despite its large capacity increase across both grey cement (+40% to 14.7mn MT) and putty (+33% to 1.2 mn MT) by FY21E. We reiterate BUY on JK Cement (JKCE) with a TP of Rs 1,654 (10x its consol Sep21E EBITDA: EV/MT of USD 120).

JK Cement Ltd. has gained 39.31% in the last 3 Months

Is JK Cement Ltd. worth buying?

98 Votes:

Buy 70.41%

Sell 19.39%

Hold 10.2%

RESEARCH REPORTS

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