Nirmal Bang

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

A Relationship Beyond Broking

External broker reports(aggregated public sources), Nirmal Bang

External broker reports(aggregated public sources)

Equity Bottom-Up

<div><div><div><div><ul><li>4QFY22 performance: SRCM reported revenue of Rs41bn, up 3.6% YoY and 7% below our estimate.</li></ul><div><div><div><div><ul><li>Capex plans: The company has commissioned 3rd clinker line at Chhattisgarh recently, which has total capacity of 4mn mt.</li></ul><div><div><div><div><ul><li>This plant will supply clinker for the recently commissioned grinding units in East. SRCM had earlier announced a capex plan, which includes: (1) Setting up of an integrated cement plant in Nawalgarh tehsil of Rajasthan with clinker capacity of 3.8mn mt and cement grinding capacity of 3.5mn mt (2) Setting up of grinding unit in the Purulia district in West Bengal with 3mn mt capacity and (3) Setting up of 106MW solar power plant at various locations. </li></ul></div></div></div></div></div></div></div></div></div></div></div></div><p><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></p>

4QFY22 performance: SRCM reported revenue of Rs41bn, up 3.6% YoY and 7% below our estimate.Capex plans: The company has commissioned 3rd clinker line at Chhattisgarh recently, which has total capacity of 4mn mt.This plant will supply clinker for the recently commissioned grinding units in East. SRCM had earlier announced a capex plan, which includes: (1) Setting up of an integrated cement plant in Nawalgarh tehsil of Rajasthan with clinker capacity of 3.8mn mt and cement grinding capacity of 3.5mn mt (2) Setting up of grinding unit in the Purulia district in West Bengal with 3mn mt capacity and (3) Setting up of 106MW solar power plant at various locations. 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.

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