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Buy India Cements, target Rs 86: Kunal Bothra

Independent analyst Kunal Bothra has a buy call on India Cements Ltd. with a target price of Rs 86. The current market price of India Cements Ltd. is Rs 80.5. Time period given by the analyst is Intra Day when India Cements Ltd. price can reach the defined target. Kunal Bothra recommended to keep stoploss at Rs 77

India Cements Ltd., incorporated in 1946, is a midcap companywith a market cap of Rs 2492.78 crore.

India Cements Ltd. key Products/Revenue Segments include Cement which contributed Rs 5175.29 Crore to Sales Value (96.90 % of Total Sales), Ready Mix Concrete which contributed Rs 92.86 Crore to Sales Value (1.73 % of Total Sales), Other Operating Revenue which contributed Rs 17.34 Crore to Sales Value (0.32 % of Total Sales), Power Generation which contributed Rs 16.89 Crore to Sales Value (0.31 % of Total Sales), Traded Goods which contributed Rs 14.54 Crore to Sales Value (0.27 % of Total Sales), Income From Construction Work which contributed Rs 9.97 Crore to Sales Value (0.18 % of Total Sales), Clinker which contributed Rs 6.46 Crore to Sales Value (0.12 % of Total Sales), Cement (White) which contributed Rs 5.89 Crore to Sales Value (0.11 % of Total Sales) and Thermal Power which contributed Rs 1.48 Crore to Sales Value (0.02 % of Total Sales)for the year ending 31-Mar-2018.

For the quarter ended 31-12-2018, the company has reported a Standalone sales of Rs 1316.30 Crore, down -5.10 % from last quarter Sales of Rs 1387.05 Crore and up 8.51 % from last year same quarter Sales of Rs 1213.08 Crore Company has reported net profit after tax of Rs 3.13 Crore in latest quarter. The company’s top management includes Mr.Basavaraju, Mr.K Balakrishnan, Mr.M R Kumar, Mr.N Srinivasan, Mr.N. Srinivasan, Mr.S Balasubramanian Adityan, Mr.V Ranganathan, Mr.V Venkatakrishnan, Mrs.Chitra Srinivasan, Mrs.Rupa Gurunath, Ms.Lakshmi Aparna Sreekumar, Ms.Sandhya Rajan. Company has S Viswanathan LLP as its auditoRs As on 31-12-2018, the company has a total of 309,662,201 shares outstanding.

Source: Economic Times