21 April, 2014 07:31 IST
News
`Buy` Sadbhav Engineering; target Rs 150: Angel Broking
Source: IRIS Exclusive (31-JAN-12)
Comments  |  Post Comment

Angel Broking has maintained `Buy` on Sadbhav Engineering  with a price target of Rs 150 in its report dated Jan. 31, 2012. The broking house gave the following rationale:

For 3QFY2012, Sadbhav Engineering (SEL) reported a strong performance, marginally ahead of our expectations (highest on the street) and way ahead of street estimates. SEL reported robust 52.0% yoy growth on the top-line front to Rs 7,237 million, in-line with our estimate of  Rs 7,143 million (consensus estimate of  Rs 6.3 billion). SEL has been able to maintain a sturdy execution pace for captive road BOT projects since the past few quarters, leading to robust revenue growth. On the margin front, the company posted EBITDAM of 10.4%, marginally lower than our estimate of 10.7%. The only surprise came in the interest cost, as it stood at Rs 106 million, registering a decline of 31.3% on a sequential basis and lower than our estimate of Rs 168 million.

On the earnings front, SEL reported 58.1% growth yoy to Rs 417 million, higher than our expectation of Rs 389 million (consensus estimate of Rs 310 million) on account of higher top-line growth and lower interest cost. We maintain our Buy view on the stock with a target price of Rs 150.

Click here to view full report

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.



Sadbhav Engineering Limited   (Q,N,C,F)*


Live News
Rockwell Collins Q2 profit drops, misses forecast - 18-Apr-2014 18:39
Honeywell first quarter earnings climb - 18-Apr-2014 18:33
Reliance reports marginal increase in Q4 profit - 18-Apr-2014 18:17
Snap-on Q1 profit climbs - 18-Apr-2014 18:11
Select Comfort Q1 earnings decline as margins contract - 18-Apr-2014 18:10
Syntel first quarter profit beats forecast - 18-Apr-2014 18:06
Cepheid swings to quarterly loss on higher costs - 18-Apr-2014 17:59
DSP BlackRock Mutual Fund: What's in, what's out in March - 18-Apr-2014 16:37
CARE assigns ' BBB (SO)' to Jet Airways - 18-Apr-2014 16:17
CARE reaffirms 'BBB+ (Is)' to Ashiana Housing - 18-Apr-2014 16:10
CARE reaffirms 'AA+' to M&M - 18-Apr-2014 16:05
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   8d2nnf into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer