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Research
Views on JK Lakshmi Cement 3QFY2014 results - Angel Broking
Posted On : 2014-02-23 00:50:31( TIMEZONE : IST )
Views of Mr. V. Srinivasan (Research Analyst - Cement, Angel Broking) on JK Lakshmi Cement 3QFY2014 results:
"For 3QFY2014, JK Lakshmi Cement's results were below estimates on the operating front. The company's top-line rose by 1.8% yoy to Rs. 503cr. Top-line growth is expected to have been driven by higher volumes as realization remained weak during the quarter. OPM stood at 12.6% down 725bp on yoy basis impacted by lower realization and higher freight costs. The company's bottom-line fell by 66% yoy to Rs. 14.1cr impacted by poor operating performance. We recommend a buy on the stock with a target price of Rs. 79."
