Motilal Oswal's research report on EPL
EPLL reported a strong operating performance in 4QFY24, with EBITDA rising 23% YoY due to 2.1x YoY EBITDA growth for the Americas (led by the ongoing program to improve margins in the Americas coupled with a positive contribution from the Brazil business). EBITDA for EAP grew 6% YoY, while AMESA/Europe witnessed a ~7%/1% YoY decline in EBITDA. We broadly maintain our earnings estimates for FY25/FY26. We value the stock at 18x FY26E EPS to arrive at our TP of INR250. Reiterate BUY.
Outlook
We largely maintain our earnings estimates for FY25/FY26. We value the stock at 18x FY26E EPS to arrive at our TP of INR250. Reiterate BUY.
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