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India Cements share price: Sell India Cements, target price Rs 150: ICICI Securities

Financials For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 1495.30 Crore, up 25.74 % from last quarter Total Income of Rs 1189.24 Crore and up 24.80 % from last year same quarter Total Income of Rs 1198.12 Crore. Company reported net profit after tax of Rs 43.97 Crore in latest quarter. The brokerage broadly maintains FY22-23E EBITDA, but raises FY22-23E PAT by ~25% owing to lower debt and raise target price to Rs150/sh (earlier: Rs120) based on unchanged 7x FY23EV/E. High ‘net debt to EBITDA’ ratio at >3x with higher exposure to volatile prices in South market remains key concern.

India Cements Ltd reports earnings for Q4FY21, FY21

India Cements Ltd reports earnings for Q4FY21, FY21
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