BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
JK Lakshmi Cement Ltd.'s revenue/Ebitda/adjusted profit after tax rose 25%/33%/66% YoY in Q4 FY21 to Rs 13.2 billion/Rs 2.7 billion/Rs 1.7 billion (3%/34%/122% above our estimate), led by higher realisation and lower power and fuel costs.
Volumes grew 18% YoY to 2.9 million tonne (in line) and Ebitda/tonne was 36% above our estimate at Rs 922 (up 30% QoQ, up 13% YoY).
We have raised our FY22E/FY23E earnings per share estimate by 23%/22% to factor in accelerated deleveraging, which should drive 15% earnings per share compound annual growth rate over FY21-23E.
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