External broker reports(aggregated public sources), Axis Direct

Axis Direct

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>Orient cement reported Revenue growth of 2% in Q3FY22 owing to higher realization. However, the company’s EBITDA/APAT posted a de-growth of 14%/19% on account of elevated costs</li><li>The company reported a volume of 1.22 million tonnes per annum (mntpa), down 10% YoY as it did not resort to selling cement at unremunerative prices and maintained price discipline.</li><li>We value the company at 6x of its FY23E EV/EBITDA and retain our BUY rating on the stock with a target price of Rs 200/share. TP implies an upside of 16% from CMP.</li></ul><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>

Orient cement reported Revenue growth of 2% in Q3FY22 owing to higher realization. However, the company’s EBITDA/APAT posted a de-growth of 14%/19% on account of elevated costsThe company reported a volume of 1.22 million tonnes per annum (mntpa), down 10% YoY as it did not resort to selling cement at unremunerative prices and maintained price discipline.We value the company at 6x of its FY23E EV/EBITDA and retain our BUY rating on the stock with a target price of Rs 200/share. TP implies an upside of 16% from 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.

Orient Cement: Cost Headwinds Dampens Profitability; Capacity Expansion On Track