India Cements share price: India Cements shares ended 2.61 per cent lower at Rs 190.55 apiece on the BSE on Wednesday, May 24, after the company released its March quarterly numbers.

India Cements Q4 results

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The company logged a standalone loss of Rs 218 crore for the quarter ended March, which was estimated at Rs 130 crore. The company’s revenue grew 4.9 per cent to Rs 1,460 crore for the three-month period. It was estimated at Rs 1,433 crore. Other income stood at Rs 18.4 crore against Rs 4.73 crore a year ago.

The earnings before interest, taxes, depreciation, and amortisation (EBITDA) of the company stood at Rs 44 crore against Rs 61 crore registered in the corresponding quarter of the previous fiscal.

Brokerage’s view

Nuvama has maintained a ‘reduce’ rating on India Cements for a target price of Rs 112 apiece given the weak sector fundamentals and India Cement’s long-standing concerns of high net debt and low future return on equity.

Phillip Capital has given a 'neutral' rating on India Cements for a target price of Rs 200 apiece. “We were among the lowest on street estimates and we downgraded ICEM long ago on the back of consistent lower-than-expected operating performance,” said the brokerage in its report.

India Cements shares: Past performance

India Cements shares have lost over 14 per cent of their value in 2023 so far. In comparison, the Nifty headline index has risen about one per cent.

Catch the latest stock market updates here. For more news on sports, politics follow Zee Business