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Feb 15, 2017, 01.17 PM | Source: Moneycontrol.com

Accumulate Monte Carlo Fashions; target of Rs 453: KR Choksey

KR Choksey has recommended accumulate rating on Monte Carlo Fashions with a target price of Rs 453 in its research report dated February 13, 2017.

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Accumulate Monte Carlo Fashions; target of Rs 453: KR Choksey

KR Choksey has recommended accumulate rating on Monte Carlo Fashions with a target price of Rs 453 in its research report dated February 13, 2017.

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KR Choksey's research report on Monte Carlo Fashions

Monte Carlo fashions Ltd. declared its Q3FY17 results with Net Sales for Q3FY17 stood at INR 2887.4 Mn which de-grew by 17.8% y-o-y, below our expectation. EBIDTA stood at INR 530.1Mn with 18.4% margin. EBIDTA margin was down as compared to Q3FY16 by 361bps yoy. PAT stood at INR 339.4Mn and PAT margin was at 11.8%.

Outlook

We forecast around 5% growth in FY18E & FY19E. EBIDTA and PAT margins to be stable in FY18E & FY19E. We value the company at EPS of INR 36.9 it’s FY19E and recommend “ACCUMULATE” rating on the stock with a target of INR 453 and a potential upside of 14.1%.

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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.

To read the full report click here

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Accumulate Monte Carlo Fashions; target of Rs 453: KR Choksey

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