Sharekhan revise Ramco Cements price target to Rs 1000; maintains Buy rating
For Q3 FY21, Ramco Cements reported largely in-line operational performance, while net profit lagged estimates on account of a higher effective tax rate (ETR). Standalone revenues rose by 4.8% yoy (up 6.5% qoq) to Rs 1339 cr led by a 12.7% yoy rise in blended realisations on account of higher cement prices yoy in South India.
Ramco Cements registered good growth in Eastern regions. EBITDA per tonne more than doubled to Rs. 1,432 (down 15% qoq) led by higher realisations: Reuters