Networth Stock Broking is bullish on Marg and has recommended buy rating on the stock with a target of Rs 256 in its May 19, 2011 research report.
"Established in 1994, Chennai-based MARG Ltd (MARG) is one of the growing breed of infrastructure development companies. Broadly, the company operates in three segments, i.e. Infrastructure (BOT assets), EPC and Real estate. The company focuses not on standalone projects, but on those that provide opportunities to exploit the synergies of its infrastructure and real estate business capabilities. The parent company is largely into EPC contracts, a mix of internal and external projects, while infrastructure projects are under wholly owned subsidiaries as SPVs."
"MARG reported revenue growth of 14% at Rs. 3607 mn for Q4 FY11 on a QoQ basis and a good 72% on YoY basis. For FY11, there was a revenue growth of 46% at Rs. 10843 mn. During the year the company achieved a QoQ CAGR of 27%. The management expects its consolidated revenue to cross Rs. 9000 mn. Revenues from the EPC business grew by 43%, Port business grew due to a significant 203 % growth in cargo traffic (4.75 MT traffic handled) and SEZ business grew 32%. Buy the stock with a target of Rs 256," says Networth Stock Broking research report.
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