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Feb 17, 2017, 02.48 PM | Source: Moneycontrol.com

Buy Ahluwalia Contracts; target of Rs 353: Systematix

Systematix is bullish on Ahluwalia Contracts has recommended buy rating on the stock with a target price of Rs 353 in its research report dated February 17, 2017.

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Buy Ahluwalia Contracts; target of Rs 353: Systematix

Systematix is bullish on Ahluwalia Contracts has recommended buy rating on the stock with a target price of Rs 353 in its research report dated February 17, 2017.

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, Systematix Group |


Systematix's research report on Ahluwalia Contracts

Ahluwalia Contracts (AHLU) revenue grew 11.9% yoy to Rs 3.6bn, led by recommencement of two Patna projects. OPM expanded 82bps yoy to 13.2%. The lease rental income from Kota BOT project was at Rs 3.2mn/qtr and management expects this to increase to Rs 5mn/month in 1HFY18.

Outlook

But we revise upwards PAT estimates for FY17e-19e by 1-6% to account for healthy EBITDA margins of 13.6% and lower interest cost due to continuous debt (Rs 980mn) reduction from here on. We maintain a Buy rating, with a revised target price of Rs 353, based on 18x Sept ’18 earnings (Rs 340 earlier).

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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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Buy Ahluwalia Contracts; target of Rs 353: Systematix

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