Shares of Sagar Cement have been split on August 17, 2021 (ex-date) pursuant to the board and shareholder approval granted for sub-division of shares in its meetings on July 1, 2021 and July 28, 2021, respectively. The record date for the same has been fixed as August 18, 2021. Subsequently, the shares of the company have been split in the 1:5 ratio - an equity share with existing face value of Rs. 10 has been sub-divided into five equity shares of Rs. 2 face value each. Consequently, the share price has changed to Rs. 304/share from Rs. 1518/share (closing price as on August 2016). Given the strong demand outlook, we expect the company's growth trajectory to accelerate further with timely commissioning of new 2.5 MT capacity from September 2021 onwards. We expect revenue and EBITDA CAGR of 30.8% and 27.3%, respectively, in FY21-23E. At the current market price of Rs. 311/share, the stock is still trading at attractive valuations of 6.4x FY23E EV/EBITDA leaving decent scope for further upside.
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Shares of Sagar Cements Ltd was last trading in BSE at Rs. 309.3 as compared to the previous close of Rs. 1516.9. The total number of shares traded during the day was 40816 in over 1521 trades.
The stock hit an intraday high of Rs. 317 and intraday low of 302. The net turnover during the day was Rs. 12643463.