284.80 -7.20 (-2.47%)
NSEMar 05, 2021 03:31 PM
The 30 reports from 10 analysts offering long term price targets for Ambuja Cements Ltd. have an average target of 267.40. The consensus estimate represents a downside of -6.11% from the last price of 284.80.
|Summary||Date||Stock||Broker||Price at Reco.||Target||Price at reco|
Change since reco(%)
|2021-02-22||Ambuja Cements Ltd. +||Nirmal Bang Institutional||266.95||276.00||266.95 (6.69%)||Target met||Accumulate|
Nirmal Bang Institutional
Expansion may not be enough to arrest market share loss Ambuja Cements Ltd (ACEM) will add 3mn mt clinker unit and 1.8mn mt grinding unit at Marwar Mundwah (Rajasthan) by 2QCY22. The long awaited expansion is finally coming closer to commissioning. However, the current expansion is just 6% of the company's total cement grinding capacity. While this expansion will address clinker constraints in North India and possibly add additional volume of ~4mn mt, we believe it will not be enough to arrest the market share loss. The management has indicated that it will evaluate greenfield and brownfield capacity expansions and will update in the next few...
|2021-02-20||Ambuja Cements Ltd. +||HDFC Securities||275.30||308.00||275.30 (3.45%)||8.15||Buy|
We maintain BUY with a revised SOTP-based target price of INR 308/sh. Ambuja Cements: During 4QCY20, ACEM printed a healthy performance, capitalising on strong demand and pricing (primarily in the north). Cost controls further bolstered margin. Thus, standalone net sales/EBITDA/APAT rose 12/40/49% to INR 35.2/7.7/5.0 bn respectively. Over the next two years, ACEMs profitability will benefit from its capacity expansion in the north and low-cost WHRS and solar power expansions. ACEM also hinted that it is exploring capacity expansion at various locations to drive long-term growth visibility.
|2021-02-20||Ambuja Cements Ltd. +||Prabhudas Lilladhar||266.95||315.00||266.95 (6.69%)||10.60||Buy|
Renewed Master Supply Agreement (MSA) with ACC for the next 3 years. Ambuja Cement (ACEM) delivered strong set of Q4CY20 earnings with 9%/5% beat on our/consensus EBITDA estimates. The beat was driven by better than expected realisations and lower costs....
|2021-02-19||Ambuja Cements Ltd. +||Motilal Oswal||264.70||275.00||264.70 (7.59%)||Target met||Neutral|
|2021-01-09||Ambuja Cements Ltd. +||Prabhudas Lilladhar||270.35||285.00||270.35 (5.34%)||Target met||Buy|
Street is doubtful on sector's ability to increase prices post CCI raids. While, we remain confident that prices would see meaningful increase to help maintain Q3FY21 margins given the peak period of activity and steep surge in fuel cost. We...
|2020-10-28||Ambuja Cements Ltd. +||Geojit BNP Paribas||259.70||265.00||259.70 (9.66%)||Target met||Hold|
Geojit BNP Paribas
We remain cautious on cement industry, given ongoing weakness in Infrastructure projects, construction, road and other housing activities and expect slow recovery. Hence, we maintain our HOLD rating on the...
|2020-10-26||Ambuja Cements Ltd. +||Arihant Capital||245.05||262.00||245.05 (16.22%)||Target met||Hold|
Ambuja Cement has reported good set of numbers during Q3CY20 with strong volume growth and margin beat. Company has posted a volume growth of 8% YoY//35% QoQ in 3QCY20, owing to pent-up demand and strong recovery in rural market. Revenue for the quarter grew by 9% YoY/31% QoQ, driven by strong volume growth and better pricing. EBITDA during the quarter grew by 55% YoY/14% QoQ to Rs 680 cr, largely due to tight control over fixed cost. EBITDA margin improved sharply to 23.9% during the quarter from 16.8% in Q3CY19. Profit for the...
|2020-10-24||Ambuja Cements Ltd. +||ICICI Securities Limited||247.40||265.00||247.40 (15.12%)||Target met||Hold|
|2020-10-23||Ambuja Cements Ltd. +||Dolat Capital||247.40||257.00||247.40 (15.12%)||Target met||Accumulate|
|2020-10-23||Ambuja Cements Ltd. +||Nirmal Bang Institutional||247.40||265.00||247.40 (15.12%)||Target met||Accumulate|
|2020-10-23||Ambuja Cements Ltd. +||Prabhudas Lilladhar||245.05||285.00||245.05 (16.22%)||Target met||Buy|
Ambuja Cement (ACEM) delivered strong set of Q3CY20 earnings with 17%/14% beat on our/consensus EBITDA estimates. The beat was primarily driven by steeper than expected reduction in costs. Factoring in lower costs...
|2020-10-22||Ambuja Cements Ltd. +||Motilal Oswal||247.40||235.00||247.40 (15.12%)||Target met||Neutral|
|2020-07-27||Ambuja Cements Ltd. +||Nirmal Bang Institutional||207.15||223.00||207.15 (37.48%)||Target met||Accumulate|
Nirmal Bang Institutional
First sign of improving efficiency; upgrade to Accumulate Ambuja Cements Ltd (ACEM) has reported extremely good set of numbers yet again for 2QCY20, driven by improvement in operating costs and better realizations. We are positively surprised by the improvement in the companys operating performance after a very long time. The company has reported the highest EBITDA/mt in over a decade at Rs1,421. We are upgrading our recommendation on the stock to Accumulate from Sell as we factor in the improved cost structure and impressive EBITDA growth. Our revised EBITDA estimates for the company are higher by 30.3% and 32.4% for CY20 and CY21, respectively. We have also...
|2020-07-27||Ambuja Cements Ltd. +||Arihant Capital||221.25||221.00||221.25 (28.72%)||Target met||Hold|
Ambuja Cement reported a rather better than expected set of numbers in Q2CY20 despite a more than month long lockdown across the country. The standalone revenue stood at Rs 2,177 Cr, down by 27.0% YoY/23.0% QoQ, EBITDA fell by 14.8% YoY/1.3% QoQ to Rs 595 Cr and Net Profits stood at Rs 453 Cr, declining by 10.0% YoY/13.6% QoQ. EBITDA margins improved to 27.3% during the quarter from 21.3% in Q1CY20 and 23.4% in Q2CY19. Sales volume during the quarter de-grew by 29% YoY to 4.19 MT (million tonnes) while realization per tonne increased by 2% YoY. Total operating...
|2020-07-27||Ambuja Cements Ltd. +||Prabhudas Lilladhar||220.10||235.00||220.10 (29.40%)||Target met||Buy|
Ambuja Cement (ACEM) delivered strong set of Q2CY20 earnings with 35%/30% beat on ours/consensus EBITDA estimates. Lower than expected costs drove the beat in earnings. Cement demand positively surprised us as well as the street with decline of 12% YoY in May (against street expectation/PLe of 40%/15% drop) and growth of 1% YoY in June (against street estimate/PLe of 15%/5% drop). Based on...
|2020-07-27||Ambuja Cements Ltd. +||ICICI Securities Limited||207.15||211.00||207.15 (37.48%)||Target met||Hold|
ICICI Securities Limited
Ambuja Cements surprised positively in Q1CY20. Revenues for the quarter were at | 2828 crore (vs. I-direct estimate of | 2,780 crore), down 3.4% YoY. Sales volume declined 9.6% YoY to 5.77MT (in line with I-direct estimate: 5.73 MT) as business got impacted in March 2020 due to announcement of a nationwide lockdown. Realisations cushioned the revenue fall, growing 6.6% YoY to | 4900/t (vs. I-direct estimate of | 4,849/t) as prices remained elevated in its major markets combined with higher sales of premium products. On the cost front, total costs per tonne remained broadly flat at...
|2020-07-25||Ambuja Cements Ltd. +||Motilal Oswal||200.95||207.00||200.95 (41.73%)||Target met||Neutral|
4,155/t), led by lower freight cost (due to MSA with ACC) and sharp cuts in discretionary expenses (ad spends, travel, repairs, third-party services, etc.), which EBITDA/t improved 36% QoQ (+19% YoY) to INR1,421/t (v/s est. Mr. Akhoury was earlier the MD and CEO of Ambujas subsidiary ACC, where he is credited with arresting market share decline for the company after a gap of 10 years as well as implementing strong cost control. As a result, we expect ACEMs EBITDA per ton to be marginally lower in the next two years and underperform peers. This would be due to the fixed cost addition starting next year from its green-field plant (Marwar-Mundwa) with slow volume ramp-up. This would be due to the fixed cost addition starting next year from its green-field plant (Marwar-Mundwa) with slow volume ramp-up.
|2020-07-24||Ambuja Cements Ltd. +||Dolat Capital||200.95||246.00||200.95 (41.73%)||Target met||Buy|
|2020-06-16||Ambuja Cements Ltd. +||Prabhudas Lilladhar||187.15||210.00||187.15 (52.18%)||Target met||Buy|
Given the steep increase of Rs7590/bag in April-May, softness w as South expected in prices. Prices in (Rs/bag) AP/Telangana fell Rs20/bag MoM as it w itnessed steepest increase. Prices in...
|2020-05-13||Ambuja Cements Ltd. +||IDBI Capital||183.00||161.00||183.00 (55.63%)||-43.47||Hold|
Our channel check suggests, average cement prices at an all India level is up 8% MoM in May-2020. In the environment of soft demand, price hike is implemented for partial recovery of high fixed costs. We see a trend in the market where-in from government to companies, many following a strategy to increase taxes / prices to support their financials. But for the sustenance of price hike in commodity (cement), demand revival is the key element according to us. Cement industry production decreased by 25% YoY for Mar 2020 (latest data available). Companies have commenced opening of the plant starting of 20th April....