Buy Infinite Computer; target Rs 95: Firstcall Research
Brokerage house Firstcall Research is bullish on Infinite Computer Solutions India and has recommended buy rating on the stock with a target price of Rs 95 in its July 01, 2013 research report.
July 03, 2013 / 12:15 IST
Firstcall Research report on Infinite Computer Solutions India
"Infinite Computer Solutions India achieved a turnover of Rs. 3600.90 million for the 4th quarter of the current year 2012-13 as against Rs. 2669.00 millions in the corresponding quarter of the previous year. During the quarter, the company has reported an EBITDA of Rs. 440.90 millions. The company has reported a Net Profit of Rs. 297.90 million against Rs. 207.00 million respectively in the corresponding quarter of the previous year. The company has reported an EPS of Rs. 7.00 for the 4th quarter as against an EPS of Rs. 4.86 in the corresponding quarter of the previous year."Outlook and Conclusion: "At the current market price of Rs.83.00, the stock P/E ratio is at 2.42 x FY14E and 2.21 x FY15E respectively. Earning per share (EPS) of the company for the earnings for FY14E and FY15E is seen at Rs.34.34 and Rs.37.51 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 20 percent and 10 percent over 2012 to 2015E respectively. On the basis of EV/EBITDA, the stock trades at 1.07 x for FY14E and 0.91 x for FY15E. Price to Book Value of the stock is expected to be at 0.48 x and 0.39 x respectively for FY14E and FY15E. Infinite has re-structured into 3 independent businesses: IT Services, Product Engineering and Mobility & Messaging Platforms and has completed major investments in building Mobility & Next Generation Platforms, which will drive its future growth. Over the next Fiscal, the Company intends to invest over US$ 12 millions to build a platform for growth across the three business line. We recommend 'BUY' in this particular scrip with a target price of Rs.95.00 for Medium to Long term investment," says Firstcall Research report.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. 
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