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Buy Alicon Castalloy: target of Rs 1056: Sharekhan

Sharekhan is bullish on Alicon Castalloy has recommended buy rating on the stock with a target price of Rs 1056 in its research report dated November 18, 2021.

November 22, 2021 / 01:46 PM IST
 
 
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Sharekhan's research report on Alicon Castalloy


Alicon’s Q2FY2022 results were below expectations, marred by lower sales and higher-than-expected contraction in EBITDA margin. We have maintained our earnings estimates to build in the company’s multi-year order wins and increased share of high-margin machined components going forward.. The stock trades attractively at P/E multiple of 11.4x and EV/EBITDA multiple of 5.9x its FY2023E estimates.



Outlook


We maintain our Buy rating on Alicon Castalloy Limited (Alicon) with an unchanged PT of Rs. 1,056, factoring long-term revenue visibility, given its robust strong order book.

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first published: Nov 22, 2021 01:46 pm

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