Moneycontrol PRO
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

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 November 15, 2022.

November 21, 2022 / 03:08 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Sharekhan's research report on Alicon Castalloy


Q2FY23 results were slightly above expectations, with revenue, EBITDA and PAT beating estimates by 1.7%, 3% and 12%, respectively. We remain positive on the company’s growth prospects, led by a robust order book, multi-year order wins, increased share of high-margin machined components, and higher share of the e-mobility business. Earnings to report a robust 118% CAGR during FY2022-FY2024E, led by a 27% revenue CAGR and a 300-bps improvement in EBITDA margin. The stock trades attractively at P/E multiple of 13.9x and EV/EBITDA multiple of 6.2x its FY2024E estimates.


Outlook


We maintain our Buy rating on Alicon Castalloy Limited (Alicon) with a revised PT of Rs. 1,159, led by rolling forward target multiple to December 2024E EPS.


For all recommendations report, click here


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.

Alicon Castalloy - 21 -11-2022 - khan

Broker Research
first published: Nov 21, 2022 03:08 pm