Cherat Cement Company Ltd. (CHCC): Margin Game – By AAH Research

<p></p><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We initiate our coverage on Cherat Cement Company. Ltd (&ldquo;CHCC&rdquo;) with &ldquo;Buy&rdquo; rating and target price of PKR 198 per share offering upside of 29% from LDCP and 2.6% Dividend Yield.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">We have incorporated the latest financial results in our model coupled with changing industry dynamics such as decreasing energy prices backed by efficient energy mix and expected rate reversal cycle.</span></li></ul><ul><li><span style="font-family:Arial, Helvetica, sans-serif;font-size:medium;">CHCC is expected to deliver an EPS of PKR 38.6 and DPS of 4.00 in FY24E up by ~70% vs EPS of</span><span>&nbsp; </span><span style="font-family:Arial, Helvetica...