Buy Heidelberg Cement India, target price Rs 214: ICICI Direct

ICICI Direct has buy call on Heidelberg Cement India with a target price of Rs 214. The current market price of Heidelberg Cement India Ltd. is Rs 205.75. ICICI Direct recommended to keep stop loss at Rs 198.

Heidelberg Cement India, incorporated in the year 1958, is a Mid Cap company (having a market cap of Rs 4656.90 Crore) operating in Cement sector.

Heidelberg Cement India key Products/Revenue Segments include Cement, Other Operating Revenue, Scrap and Sale of services for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Standalone Total Income of Rs 517.06 Crore, down -13.84 % from last quarter Total Income of Rs 600.15 Crore and down -12.41 % from last year same quarter Total Income of Rs 590.33 Crore. Company has reported net profit after tax of Rs 7.01 Crore in latest quarter.

The company’s top management includes Mr.Vimal Kumar Jain, Mr.Jamshed Naval Cooper, Ms.Soek Peng Sim, Mr.Kevin Gerard Gluskie, Mr.Ramakrishnan Ramamurthy, Ms.Jyoti Narang. Company has S N Dhawan & Co. LLP as its auditors. As on 30-09-2022, the company has a total of 23 Crore shares outstanding.

Investment Rationale
The stock witnessed buying demand at lower band of the three-year rising channel offering favourable risk-reward.

Promoter/FII Holdings
Promoters held 69.39 per cent stake in the company as of 30-Sep-2022, while FIIs owned 6.4 per cent, DIIs 9.72 per cent.