Moneycontrol PRO
Upcoming Event:Attend Algo Convention Live, 2 Days & 12+ Speakers at best offer Rs.999/-, exclusive for Moneycontrol Pro subscribers. Register now!
you are here: HomeNewsBusiness

Hold Sterlite Technologies; target of Rs 200: ICICI Direct

ICICI Direct recommended hold rating on Sterlite Technologies with a target price of Rs 200 in its research report dated January 21, 2021.

January 28, 2021 / 03:01 PM IST
  • bselive
  • nselive
Todays L/H

ICICI Direct's research report on Sterlite Technologies

Sterlite Tech’s (STL) performance in Q3FY21 was a mixed bag as topline beat (with growth returning after 4 quarters of decline) was offset by lower than expected margins. Revenues came in at Rs 1314 crore, up 9.3% YoY. Product and services were in the ratio of 55:45. EBITDA came in at Rs 230 crore, down 4.7% YoY, owing to revenue mix. Reported EBITDA margins came in at 17.5%, down 257 bps YoY. PAT came in line at Rs 86.6, up 64.6% YoY, as Q3FY20 had one-off tax settlement. On adjusted basis, PAT was down 4% YoY.


We upgrade to HOLD (vs. REDUCE earlier), valuing it at revised target price of Rs 200/share, largely on the back of reversal of revenue decline cycle.

For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Download your money calendar for 2022-23 here and keep your dates with your moneybox, investments, taxes

Broker Research
first published: Jan 28, 2021 03:00 pm
ISO 27001 - BSI Assurance Mark