Cement
Cement
from 130 today
JSW Cement reported a 1QFY27 revenue increase of 22% YoY, though EBITDA declined by 7% YoY due to higher opex. We maintain our EBITDA estimates for FY27/FY28, value JSWC at 14x FY28E EV/EBITDA, and reiterate our Neutral rating with a target price of INR146.
JSW Cement's Q1FY27 EBITDA was impacted by soft GGBS volume growth and higher opex from the newly commissioned Nagaur plant, though management expects high-teens volume growth in FY27 and focus on improving Nagaur utilization and bringing down its cost base. Maintain 'Accumulate' with a revised target price of INR139.
JSW Cement reported a 1QFY27 EBITDA miss due to higher-than-estimated opex/t, while demand outlook remains constructive with capacity expansion and cost initiatives on track. We maintain our EBITDA estimates and reiterate our Neutral rating with a target price of INR146.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
