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Nuvoco Vistas Gets Systematix 'Buy' Call As In Initiates Coverage
Higher leverage is the reason why the company gets lower multiple vs peers, the brokerage expects this gap to narrow once free cash flow starts improving sharply FY28 onwards.
22 Sep 2025, 07:00 AM IST 
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Nuvoco Vista is well placed to benefit from the healthy momentum in the cement industry, driven by rapid growth in the housing and infrastructure space, especially in the eastern region.
(Photo Source: freepik)
Nuvoco Vista has the highest premium product contribution in the industry at 41%, as its products, Concreto and Duraguard gain traction, resultantly improving realisations and margins. Management expects Ebitda/tonne to improve by Rs 60-80 FY26 onwards, driven by cost rationalization and better product mix.
