Nuvoco Vistas - Strong Acquisition-Led Growth: Nirmal Bang Initiates Coverage
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Nirmal Bang Report
We believe that Nuvoco Vistas Corporation Ltd. has done well to become a top five player in the Indian cement industry in terms of capacity in a very short period of seven years.
Nuvoco Vistas will have 25 million metric tonne capacity by FY23, making it one of the largest cement companies in India with strong presence in Eastern and Northern regions.
What we like about the company is:
high market share in the Eastern region
strong brand portfolio across various categories
continued reduction in operating costs through improved efficiencies since FY19
large limestone reserves to sustain higher levels of growth and brownfield opportunities
possibility of achieving further synergies between Nuvoco Vistas and Nu Vista Ltd. and
management focus on deleveraging to become debt free by FY26.
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