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Nuvoco Vistas - Strong Acquisition-Led Growth: Nirmal Bang Initiates Coverage

Nuvoco Vistas - Strong Acquisition-Led Growth: Nirmal Bang Initiates Coverage

Small rock, pumice, and sand, different types of block material, sit in a pile before being mixed into cement during production. (Photographer Meg Roussos/Bloomberg)
Small rock, pumice, and sand, different types of block material, sit in a pile before being mixed into cement during production. (Photographer Meg Roussos/Bloomberg)

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.

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:

  1. high market share in the Eastern region

  2. strong brand portfolio across various categories

  3. continued reduction in operating costs through improved efficiencies since FY19

  4. large limestone reserves to sustain higher levels of growth and brownfield opportunities

  5. possibility of achieving further synergies between Nuvoco Vistas and Nu Vista Ltd. and

  6. management focus on deleveraging to become debt free by FY26.

Click on the attachment to read the full report:

Nirmal Bang Nuvoco Vistas Corporation Ltd- Initiating Coverage-12 October 2021.pdf

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