Buy Allcargo Logistics; target of Rs 229: Motilal Oswal
Motilal Oswal is bullish on Allcargo Logistics has recommended buy rating on the stock with a target price of Rs 229 in its research report dated August 23, 2016.
August 26, 2016 / 15:52 IST
Motilal Oswal's research report on Allcargo Logistics
AGLL reported below estimate EBITDA at INR 1.3b (vs est. of INR 1.4b; -5% YoY). While reported EBIT stood at INR 861m (-2% YoY) and PAT at INR 624m (-7% YoY) was impacted by higher tax rate at 29% (v/s 20% in FY16). Allcargo adjusted goodwill against net worth to the extent of INR 6.2 (of the total INR 9b as on March 2016) under IndAS provisions.
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