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Ambuja Cements rises 2% in trade; brokerages upbeat on company's capex plan
At 12:08 PM, Ambuja Cements share price was trading 2.21 per cent higher at ₹592.8 per share on the BSE. In comparison, the BSE Sensex was trading down 0.28 per cent at 83,462.23. The company's market capitalisation stood at ₹1,46,013.96 crore. Its 52-week high was at ₹706.85 per share and 52-week low was at ₹452.9 per share.
On Ambuja Cements' Marwar Mundwa plant visit, the company revealed plans to increase its market share from 11-12 per cent to 14.5 per cent, with a target of 17-18 per cent/20 per cent by FY28E/FY30E.
Further, increasing its premium cement share remains a key focus area, which currently accounts for 24 per cent of its trade volume, with ₹400 per ton higher profitability. The company is also on track to expand its capacity and achieve a targeted capacity of 140 mtpa by FY28.
Management also reiterated their guidance to reduce costs by ₹500–550 per ton by FY28E and believes acquisition challenges are behind it and profitability should improve backed by increasing digitisation, synergies from Adani group companies, higher share of RE power, improved logistics, lower lead distance, better use of marine transport and increase in share of premium cement (currently at 29 per cent of trade sales; aim is to reach 35 per cent in FY26).
On the financial front, Ambuja Cements has reiterated its Ebitda/t target of ₹1,500/t by FY28E, led by cost savings and an increasing share of premium cement. Ebitda refers to Earnings before interest, tax, depreciation and amortisation.
What should investors do with Ambuja Cements shares?
Post the visit, Nuvama Institutional Equities has suggested buying Ambuja Cements for a target of ₹694 per share on the back of the company's healthy capex plans and measures being undertaken for cost efficiency improvement.
Meanwhile, Motilal Oswal has reiterated its 'Buy' rating for a target of ₹700 per share. The brokerage estimates the company's consolidated revenue/Ebitda/PAT compound annual growth rate (CAGR) at 17 per cent/35 per cent/36 per cent over FY25-27, albeit on a low base.
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