Buy Prism Johnson, target price Rs 137: HDFC Securities

HDFC Securities has buy call on Prism Johnson with a target price of Rs 137. The current market price of Prism Johnson is Rs 129.05. HDFC Securities recommended to keep stoploss at Rs 125.

Prism Johnson, incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 6531.05 Crore) operating in Cement sector.

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


Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 2121.39 Crore, up 18.72 % from last quarter Total Income of Rs 1786.94 Crore and up 13.64 % from last year same quarter Total Income of Rs 1866.74 Crore. Company has reported net profit after tax of Rs .43 Crore in latest quarter.

The company’s top management includes Mr.Shobhan M Thakore, Mr.Vijay Aggarwal, Mr.Vivek K Agnihotri, Mr.Sarat Chandak, Ms.Ameeta A Parpia, Dr.Raveendra Chittoor, Mr.Rajan B Raheja, Mr.Akshay R Raheja. Company has G M Kappadia & Co. as its auditors. As on 31-03-2023, the company has a total of 50 Crore shares outstanding.

Investment Rationale
Stock attempting upside breakout of crucial hurdle of down trend line at 130 levels.

Promoter/FII Holdings
Promoters held 74.87 per cent stake in the company as of 31-Mar-2023, while FIIs owned 3.5 per cent, DIIs 4.37 per cent.