JK Lakshmi Cement: Sharekhan retains a Buy rating with revised price target of Rs 525
JK Lakshmi Cement had reported strong performance for Q3FY2021 earnings, led by strong volume offtake (+15.8% yoy, +13.0% qoq) and rise in EBITDA/ tonne (+9.0% yoy, -9.1% qoq). The company witnessed strong demand in its key regions of operations in Q3 which is expected to sustain in Q4 as well which is expected to lead to a 7% volume growth for FY21 (+4.0% 9M FY21 volume offtake). JK Lakshmi Cement share price today is Rs 436, up Rs 2 or 0.5%.
Sharekhan channel checks; average cement prices in the Western and Northern regions (together account of 75% sales mix) during Q4 FY21 till date are up 3.7% and 2.0%, respectively versus Q4FY2020: Reuters