13288 Investors following GTL. Share this News with them.
0
Like this story, share it with millions of investors on M3
Buy GTL, target of Rs 334: Emkay Global
Emkay Global Financial Service has maintained its buy rating on GTL with a revised target price of Rs 334. GTL reported Q1FY09 results below oresearcg firm's estimates. The net sales for the quarter remained flat with mere 3% yoy growth to Rs 4189 million.
Emkay Global Financial Service has maintained its buy rating on GTL with a revised target price of Rs 334 in its July 11, 2008 research report. "GTL reported Q1FY09 results below our estimates. The net sales for the quarter remained flat with mere 3% yoy growth to Rs 4189 million.The EBIDTA grew by 7% yoy to Rs 651 million where as the EBIDTA margins expanded by 60bps to 15.5%. The PAT for the quarter increased by 2% yoy to Rs 328 million, significantly lower than our estimate of Rs 423 million."
"The management has however maintained the revenue growth guidance of 25% for FY09. Post lower than expected Q1FY09 results, we are lowering our revenue and earning estimates by 5% and 9% respectively for FY09E and FY10E. Our revised earning estimates are Rs 19.5 and Rs 25.7 for FY09E and FY10E respectively. We have also reduced the value of investments in GIL from Rs 120 per share to Rs 77 per share owing to higher discount to the stock price. We maintain BUY rating on the stock with a revised price target of Rs 334 from Rs 401," says Emkay's research report.
Disclaimer: The views and investment tips expressed by investment experts 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.
