Accumulate Sagar Cements, target price Rs 249: Geojit

Geojit has accumulate call on Sagar Cements with a target price of Rs 249. The current market price of Sagar Cements Ltd. is Rs 214.55. Sagar Cements Ltd., incorporated in the year 1981, is a Small Cap company (having a market cap of Rs 2797.80 Crore) operating in Cement sector.

Sagar Cements Ltd. key Products/Revenue Segments include Cement, Power, Scrap, Coal and Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 31-12-2022, the company reported a Consolidated Total Income of Rs 590.02 Crore, up 20.54 % from last quarter Total Income of Rs 489.48 Crore and up 75.83 % from last year same quarter Total Income of Rs 335.57 Crore. Company reported net profit after tax of Rs -27.19 Crore in latest quarter.

Investment Rationale
The brokerage upgrade rating to Accumulate with a revised target price of Rs. 249 (from Rs.219) considering the expected completion of acquisition and improving margins.

Promoter/FII Holdings
Promoters held 45.2 per cent stake in the company as of 31-Dec-2022, while FIIs owned 3.99 per cent, DIIs 19.05 per cent.