Motilal Oswal is bullish on Indo Count Industries has recommended buy rating on the stock with a target price of Rs 229 in its research report dated May 16, 2017.
Motilal Oswal's research report on Indo Count Industries
ICNT reported revenue of INR 5,129m (est. of INR 5,460m) in 4QFY17, marking flattish YoY growth. EBITDA declined 26% from INR 1,224m in 4QFY16 to INR 901m (est. of INR 1,174m) in 4QFY17.
With a foray into products like fashion, institutional linens and utility bedding, and launch of Indo Count Retail Ventures under the brand Boutique Living in India market (Oct-16), we expect 10% revenue CAGR and 16% PAT CAGR over FY17-19E. Maintain Buy with TP of INR 229 (13x FY19E EPS).
For all recommendations, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.