Buy Ambuja Cements, target price Rs 330: ICICI Securities

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Buy Ambuja Cements, target price Rs 330:  ICICI Securities


has buy call on with a target price of Rs 330. The current market price of Ambuja Cements Ltd. is Rs 270.15.

Ambuja Cements Ltd., incorporated in the year 1981, is a Large Cap company (having a market cap of Rs 54664.81 Crore) operating in Cement sector.

Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 7552.73 Crore, up 20.52 % from last quarter Total Income of Rs 6266.55 Crore and up 4.58 % from last year same quarter Total Income of Rs 7221.65 Crore. Company reported net profit after tax of Rs 962.19 Crore in latest quarter.


Investment Rationale
The brokerage maintains standalone CY21E-22E EBITDA and raise its TP to Rs 330 (from Rs300) based on 10x FY23E EV/E on half-yearly rollover.


Promoter/FII Holdings
Promoters held 63.3 per cent stake in the company as of Dec 31, 2020, while FIIs held 18.1 per cent, DIIs 11.4 per cent and public and others 7.1 per cent.





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