'Hold' Sagar Cements Shares Retains Nirmal Bang — Here's Why

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Nirmal Bang Report

We retain a Hold rating and value Sagar Cements Ltd. at 8.8x Mar-27E EV/Ebitda with a target price of Rs 241, reflecting increased competition intensity that will impact volumes and prices for the company.

The management's outlook on profitability and margins is based on evolving industry dynamics, where consolidation is expected to enhance pricing mechanisms, leading to an increase in realization by Rs 180-200/tonne.

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