Anand Rathi has issued a buy recommendation for Star Cement, setting a target price of Rs 275. Currently, Star Cement Ltd. is trading at Rs 216.85.
Star Cement Ltd., founded in 2001, is a mid-cap company with a market capitalization of Rs 8704.03 Crore, operating in the cement sector.
The company’s key products and revenue segments include cement, other operating revenue, miscellaneous income, and scrap.
Financials
For the quarter ending March 31, 2024, Star Cement reported a consolidated total income of Rs 921.36 Crore. This marks a 40.55% increase from the previous quarter’s total income of Rs 655.54 Crore and a 9.98% increase from the same quarter last year, which had a total income of Rs 837.78 Crore. The company posted a net profit of Rs 87.67 Crore for the latest quarter.
Promoter/FII Holdings
As of March 31, 2024, the promoters held a 66.59% stake in the company. Foreign Institutional Investors (FIIs) owned 1.52%, and Domestic Institutional Investors (DIIs) held 6.11%.
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