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Last Updated : Feb 13, 2019 03:33 PM IST | Source: Moneycontrol.com

Buy Allcargo Logistics; target of Rs 142: Motilal Oswal

Motilal Oswal is bullish on Allcargo Logistics has recommended buy rating on the stock with a target price of Rs 142 in its research report dated February 12, 2019.

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Motilal Oswal's research report on Allcargo Logistics


Overall revenue increased 22% YoY to INR18.03b v/s our estimate of INR16.6b, led by 22% YoY growth in the MTO segment and 25% growth in the CFS segment. EBITDA increased 20% YoY (-10% QoQ) to INR1.12b, lower than our estimate of INR1.25b. Margins stood at 6.2% (6.3% in 3QFY18). PAT increased 37% YoY to INR477m v/s our estimate of INR642m as the tax rate stood at 38% in 3QFY19 v/s our estimate of 24% (39% in 3QFY18).


Outlook


Valuations of 10.3x/9.2x FY20/21E earnings appear attractive. We value AGLL at 13x FY21E P/E to arrive at a target price of INR142. Maintain Buy.


For all recommendations report, click here


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First Published on Feb 13, 2019 03:33 pm
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