Moneycontrol Be a Pro
Get App
Last Updated : Sep 18, 2018 03:56 PM IST | Source:

Buy Apar Industries; target of Rs 986: Edelweiss

Edelweiss is bullish on Apar Industries recommended Buy rating on the stock with a target price of Rs 986 in its research report dated May 31, 2018.

Broker Research @moneycontrolcom
  • bselive
  • nselive
Todays L/H

Edelweiss' research report on Apar Industries

Apar Industries’ Q4FY18 consolidated revenue jumped 35% (15% ahead of estimate), led by strong ~53% YoY growth in conductors, ~22% in specialty oils and ~20% in cables. EBITDA grew ~28% YoY (~14% above estimates). PAT growth, however, was flat (14% below estimates) on higher interest expense owing to open-period forex (~INR190mn) and higher blockage of working capital due to GST. With capex of ~INR6.6bn incurred in past five years, Apar is well placed to capitalise on the T&D uptick, along with the product mix tilting in favour of value-added high margin HeC, higher KV oils and e-beam cables.


Hence, we estimate PAT CAGR of 32% over FY18-20 & maintain ‘BUY’ with TP of INR 986.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Jun 12, 2018 02:43 pm
Follow us on
Available On