JK Lakshmi Cement, Buy
CMP: Rs 141 Target Price: Rs 250
Q3FY2007 Result Update
Mazbooti guaranteed for cement & growth guaranteed for the investors. The performance of JK Lakshmi cement was in line with our expectations except for the one time payment of ex-gratia to its employees on the occasion of silver jubilee year & consultancy charges for debt restructuring. The top line has grown by 23.5% and the bottom line growth stands at 11.0%. EBIDTA Margin stood at 30.6% basically low on account of one time ex-gratia payment to employees. We continue to maintain buy on the stock with a target price of Rs 250 which represents upside of 78.6% from current market price of Rs 141.
Finqst, February 6, 2008
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