Views on JK Lakshmi Cement 2QFY16 Result: Angel Broking

Views of Mr. Shrenik Gujrathi (Sr. Research Analyst - Cement, Angel Broking) on JK Lakshmi Cement 2QFY16 Results:

First cut note on 2QFY16 results:

"For 2QFY2016, JK Lakshmi Cement posted disappointing set of numbers on operating front. However its top line grew by 12.8% YoY to INR 645.7cr and was above our estimate of INR 630.4cr. The EBITDA fell by 25.2% YoY to INR 66.7cr which was below estimate of INR 72.5cr. EBIDTA margin fell by 525bp YoY to 10.3% and was below our estimate of 11.2%. It was mainly due to higher raw material and employee cost. The company reported a Net loss of INR 14.9cr but was in line with our estimated loss of INR 13.7cr. It reported Net loss mainly due to additional interest and depreciation expenses on account of commissioning of new cement plant of 1.7mtpa at Durg, Chattisgarh in March 2015. We maintain our positive view on the stock with a price target of INR 430."

Shares of JK LAKSHMI CEMENT LTD. was last trading in BSE at Rs.367.05 as compared to the previous close of Rs. 376.05. The total number of shares traded during the day was 6233 in over 425 trades.

The stock hit an intraday high of Rs. 377.75 and intraday low of 365.05. The net turnover during the day was Rs. 2314890.

Source : Equity Bulls

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