CRISIL assigns fair value of Rs 200 to Technofab Engg
CRISIL Research has come out with its report on Technofab Engineering. The research firm has initiated coverage on the company with a fundamental grade of 3/5 and assigned a valuation grade of 5/5, in its February 29, 2012 report.
March 01, 2012 / 16:58 IST
CRISIL Research has come out with its report on Technofab Engineering. The research firm has initiated coverage on the company with a fundamental grade of 3/5 and assigned a valuation grade of 5/5, in its February 29, 2012 report.
Delhi-based EPC player Technofab Engineering Ltd (Technofab) has carved out a niche for itself in power, water, oil & gas and industrial infrastructure. It has a strong clientele and has been getting repeat orders from clients like NTPC, BHEL and NPCIL. A well-diversified order book of Rs 10.2 bn (2.8x TTM revenues), low gearing (due to IPO in June 2010) and low inventory days place Technofab on a strong footing in the industry. The company has also been focussing on overseas markets and has seen good traction in order flows from these markets. However, we believe this exposes it to logistic challenges. CRISIL Research assigns Technofab a fundamental grade of 3/5, indicating that its fundamentals are good relative to other listed securities in India.Order book (2.8x TTM revenues) provides healthy revenue visibility
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