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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 November 15, 2022.

November 21, 2022 / 03:08 PM IST
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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.


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

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Alicon Castalloy - 21 -11-2022 - khan

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