Orient Cement Ltd., incorporated in the year 2011, is a Small Cap company (having a market cap of Rs 1336.77 Crore) operating in Cement sector.
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Promoters held 37.4 per cent stake in the company as of Sept 30, 2020, while FIIs held 3.3 per cent, DIIs 26.1 per cent and public and others 33.2 per cent.
ICICI Securities has given a buy rating to Orient Cement with a target price of Rs 93. The share price moved down by 0.23 per cent from its previous close of Rs 66.25. The stock’s last traded price is Rs 66.10.
Orient Cement Ltd., incorporated in the year 2011, is a Small Cap company (having a market cap of Rs 1336.77 Crore) operating in Cement sector.
Financials For the quarter ended 30-09-2020, the company reported a Standalone sales of Rs 477.50 Crore, up 16.36 % from last quarter Sales of Rs 410.36 Crore and down 7.28 % from last year same quarter Sales of Rs 514.99 Crore Company has reported net profit after tax of Rs 34.82 Crore in latest quarter.
Investment Rationale The brokerage raises FY21E EBITDA by 8% and maintains FY22E EBITDA and increases target price to Rs93/share (earlier Rs84) based on 6x Sep’22 EV/E on half yearly rollover. Promoter/FII Holdings Promoters held 37.4 per cent stake in the company as of Sept 30, 2020, while FIIs held 3.3 per cent, DIIs 26.1 per cent and public and others 33.2 per cent.
