External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Equity Bottom-Up

<h2>Summary</h2>
<ul>
<li>Orient Cement (OCL) substantially reduced its net debt position through superior monitoring of the cost drivers along with maximizing cash generation. The company’s net debt/equity stood at 0.6x as of 31st March 2021 against 1.0x in FY20.</li>
<li>The company continues to strengthen its market reach and focus on the sale of premium products.</li>
<li>Capacity expansion (From 8 mntpa to 11.5 mntpa) is on track enabling the company to sustain its growth in the existing as well as in new markets.</li>
</ul>
<p>We value OCL at 5.5x FY23E EV/EBITDA and assign a BUY rating to the stock.</p>
<div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Summary

Orient Cement (OCL) substantially reduced its net debt position through superior monitoring of the cost drivers along with maximizing cash generation. The company’s net debt/equity stood at 0.6x as of 31st March 2021 against 1.0x in FY20.
The company continues to strengthen its market reach and focus on the sale of premium products.
Capacity expansion (From 8 mntpa to 11.5 mntpa) is on track enabling the company to sustain its growth in the existing as well as in new markets.

We value OCL at 5.5x FY23E EV/EBITDA and assign a BUY rating to the stock.
Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Orient Cement: Cost Leadership, Capacity Expansion, and Higher Utilization To Lead Growth

<p>We initiate coverage on the stock with a BUY rating and value the company at 5.5xFY23E EV/EBITDA to arrive at a target price of Rs 180/share, implying an upside of 35% from the CMP.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We initiate coverage on the stock with a BUY rating and value the company at 5.5xFY23E EV/EBITDA to arrive at a target price of Rs 180/share, implying an upside of 35% from the CMP.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

India

Orient Cement Limited manufactures and distributes cement.

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Orient Cement (ORCMNT IN)

Orient Cement: Cost Leadership, Capacity Expansion, and Higher Utilization To Lead Growth

Orient Cement (OCL) substantially reduced its net debt position through superior monitoring of the cost drivers along with maximizing cash generation.

Axis Direct

Initiating Coverage:Orient Cement

We initiate coverage on the stock with a BUY rating and value the company at 5.5xFY23E EV/EBITDA to arrive at a target price of Rs 180/share,...

Axis Direct

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