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Buy Alicon Castalloy; target of Rs 1159: Sharekhan

Sharekhan is bullish on Alicon Castalloy has recommended buy rating on the stock with a target price of Rs 1159 in its research report dated February 13, 2023.

March 10, 2023 / 04:31 PM IST
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Sharekhan's research report on Alicon Castalloy

Backed by its diversified business portfolio, the company aims to outperform the domestic automobile industry growth. Despite macro headwinds, the management has shared optimistic outlook for export revenue for FY24E backed by order inflow visibility. The management is looking for a gradual improvement in EBITDA margin and targets EBITDA margin at 14-15% level in next 3-4 years, as new orders is expected to deliver better EBITDA margin.


We maintain our Buy rating on Alicon Castalloy Limited (Alicon) with an unchanged PT of Rs. 1,159, led by strong order book and margin expansion plans. The stock trades at a P/E multiple of 10.1x and EV/ EBITDA multiple of 4.5x its FY25 E estimates.

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Alicon Castalloy - 10 -03 - 2023 - khan

Broker Research
first published: Mar 10, 2023 04:31 pm