Orient Cement’s (ORCMNT) Q1FY24 EBITDA declined ~3%/29% YoY / QoQ to ~INR 1bn primarily due to the maintenance shutdown taken at its Chittapur kiln (in Karnataka). Despite operational bottlenecks, ORCMNT reported robust volume growth of +15% YoY to 1.59mnte (down 7.5% QoQ), while cement realisation improved 1.8% QoQ (flat YoY) led by higher sales of premium products.

Orient Cement Ltd. has lost -20.87% in the last 1 Month

Orient Cement Ltd.

04 Aug 2023

240.88

3.40%

Result Update:Orient Cement

Buy: Orient Cement Ltd.

Target

Axis Direct

Recommendation: We maintain our BUY rating on the stock.

Orient Cement Ltd. is trading below all available SMAs

Orient Cement Ltd.

17 Jul 2023

240.88

3.40%

Axis Annual Analysis:Orient Cement

Buy: Orient Cement Ltd.

Target

Axis Direct

We value the company at 6.5x its FY25E EV/EBITDA and retain our BUY rating on the stock with a TP of Rs 165/share, implying an upside of 15% from the CMP.

Orient Cement Ltd. has an average target of 207.00 from 3 brokers.

Orient Cement Ltd.

04 May 2023

240.88

3.40%

Result Update:Orient Cement

Buy: Orient Cement Ltd.

Recommendation Target

Axis Direct

We roll over our estimate to FY25E and change our rating from HOLD to BUY

Orient Cement Ltd. has lost -32.68% in the last 3 Months

Orient Cement Ltd.

04 May 2023

240.88

3.40%

Orient Cement (HOLD): Listless performance

Hold: Orient Cement Ltd.

BOB Capital Markets Ltd.

Focus on realisation gains curbed Q4 volume growth at 5% YoY, indicating lacklustre demand in key areas

Orient Cement Ltd. has an average target of 207.00 from 3 brokers.

Orient Cement Ltd.

04 May 2023

240.88

3.40%

In pursuit of growth

Hold: Orient Cement Ltd.

Target

ICICI Securities Limited

Orient Cement’s (ORCMNT) Q4FY23 EBITDA surged 54% QoQ to ~Rs1.4bn (though it was down 9% YoY) on the back of volumes increasing 20% QoQ (up 6% YoY) and realisation falling by a mere 0.4% QoQ (up 2.8% YoY). Improved operating leverage helped total cost/te slide 4.5% QoQ driving 29% QoQ jump in EBITDA/te to Rs812 (down 14% YoY).

Orient Cement Ltd. has an average target of 207.00 from 3 brokers.

Orient Cement Ltd.

03 Feb 2023

240.88

3.40%

Disciplined cost management; slow pass-on of cost pressures to hurt margins

Hold: Orient Cement Ltd.

Target

ICICI Securities Limited

Orient Cement’s (ORCMNT) Q3FY23 EBITDA at ~Rs900mn (down 23% YoY) was above our / consensus estimates. Volumes were up ~17% / 16% YoY / QoQ while realisation increased 3% QoQ, and 1% YoY. Total cost/te was down 5% QoQ resulting in EBITDA/te improving sequentially to Rs632/te (I-Sec: Rs480/te) from Rs263/te.

Orient Cement Ltd. has lost -20.87% in the last 1 Month

Is Orient Cement Ltd. worth buying?

270 Votes:

Buy 81.85%

Sell 12.22%

Hold 5.93%

RESEARCH REPORTS

Not Rated SEE REPORTS >

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Sell SEE REPORTS >

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