22996 Investors following Adani Ports. Share this News with them.
0
Like this story, share it with millions of investors on M3
Mundra Port an outperformer: Prabhudas Lilladher
Prabhudas Lilladher has maintained its outperformer rating on Mundra Port and Special Economic Zone with a target price of Rs 900. Mundra Port & Special Economic Zone (MPSEZ) reported topline of Rs 8.18 billion for FY08, strong growth of 41.1% YoY.
Prabhudas Lilladher has maintained its outperformer rating on Mundra Port and Special Economic Zone with a target price of Rs 900 in its May 30, 2008 research report. "Mundra Port & Special Economic Zone (MPSEZ) reported topline of Rs 8.18 billion for FY08, strong growth of 41.1% YoY. On account of productivity improvement at the port, change in cargo mix and SEZ revenue, EBIDTA margin expanded from 53.1% in FY07 to 65.3% in FY08. At the PAT level, growth was muted at 11% to Rs 2.13 billion, on account of deferred tax provision of Rs 1.30 billion."
"We have valued the company's port operations on DCF basis, during the time when the concession is in force, giving us a value of Rs 686. Further, NAV of the SEZ is estimated to be Rs 184. We have assigned a value of Rs30 for the company's stake in its subsidiaries, thereby giving us a target price of Rs 900 per share. We maintain Outperformer rating on the stock," says Lilladher'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.
