Accumulate INOX Leisure; target of Rs 330: Dolat Capital
Dolat Capital recommended accumulate rating on INOX Leisure with a target price of Rs 330 in its research report dated May 08, 2018.
May 09, 2018 / 03:17 PM IST
Dolat Capital's research report on INOX Leisure
Inox reported healthy revenue growth YoY on back of good ad and F&B revenue. EBITDA margin improved 470bps YoY to 13.0% due to healthy ad/SPH growth. Hindi Box office collection is estimated to decline 19%YoY in Q1FY19 due to a high base of Bahubali-2; further, we continue to prefer Inox over PVR in anticipation of better ad/SPH growth. Inox is trading at fair valuations of 11.6/9.5 based on FY19/FY20 EV/EBITDA.
We maintain our ACCUMULATE recommendation and rollover to Jun’19 TP of ` 330.
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