Cement · STRCEM
Cement
from 199 today
Star Cement missed estimates on lower volume and higher costs in Q1FY27, but we maintain our BUY rating as we expect strong structural profitability, cost leadership, and an H2 recovery to drive earnings acceleration.
Despite lukewarm volume growth and a sharp surge in cost/t, Star Cement sustained its industry-superior EBITDA/t. We maintain BUY with a revised TP of INR 251, valuing it at 11x FY28E EV/EBITDA.
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