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Feb 17, 2017, 02.47 PM | Source: Moneycontrol.com

Buy Indo Count Industries; target of Rs 202: Systematix

Systematix is bullish on Indo Count Industries has recommended buy rating on the stock with a target price of Rs 170 in its research report dated February 16, 2017.

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Buy Indo Count Industries; target of Rs 202: Systematix

Systematix is bullish on Indo Count Industries has recommended buy rating on the stock with a target price of Rs 170 in its research report dated February 16, 2017.

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, Systematix Group |


Systematix's research report on Indo Count Industries

Indo Count’s (ICNT) 3QFY17 net revenue remained flat yoy but de-grew by 12% qoq to Rs5bn (8% below estimate). The muted revenue growth was mainly due to extension of summer, elections and holiday season in US. EBITDA stood at Rs1bn, down 11/13% yoy/qoq, while OPM was down by 270bps and stood at 20.3% (20bps lower than estimate), mainly due to an increase in employee and other expenses.

Outlook

We estimate ICNT’s revenue/net profit to post a CAGR of 10/14% during FY16-19e. We revise the target price to Rs 202 (earlier Rs 208), valued at 11x (average EPS for FY18e and FY19e) and maintain a Buy rating.

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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 Indo Count Industries; target of Rs 202: Systematix

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