Tags: JK Lakshmi Cement, Stocks, Stock Market, Stock Signs
LTP:Rs125.40
MCap:Rs767a
Although cement may be going out of favour on concerns of a supply glut setting in next year onwards, JK Lakshmi Cement seems incredibly cheap and this could trigger some value buying in the stock. Read More
The stock. which closed at Rs 125, however, fell 3 per cent reflecting the general weakness in the markets. But then, delivery volumes were higher by 91 per cent compared to the previous fortnight. The company has also announced a 20 per cent interim dividend and a 2 for 1 stock split. Last quarter, the company posted stellar results, with a 17 per cent gain in topline and 236 per cent growth in bottom line. This was aided by a 7 per cent growth in output and 12 per cent growth in net realizations. It has lined up expansion plans which might take up the capacity to close to 8 million tons in 3 years time at a expenditure of nearly Rs 1600 crore. The company trades barely above 4 times FYi 1 earnIngs, which is a substantial discount to its larger peers like Ambuja and ACC which trade at nearly 11 times forward earnings.
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