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Broking house, P-Sec has maintained buy rating on Clutch Auto.
P-Sec report on Clutch Auto:
Clutch Auto posted strong topline growth of 84% on back of robust domestic and exports demand. EBIDTA margins remained flattish at 15.3% during the quarter. While bottomline grew by 76% during the quarter. Going ahead the company has given robust guidance for topline of around Rs.3500mln, 50% growth y-o-y and EBIDTA margin improvement on account of better sales mix. Given the robust guidance and the company’s de-risked business model we believe the company is well placed to grow despite the any domestic slow down. The stock trades at 7x its FY08P earnings, we maintain BUY.
May 20 2013, 09:03
- in Technicals
May 17 2013, 12:39
- in MARKET OUTLOOK