Buy Bharat Heavy Electricals; target of Rs 200: Axis Direct

Axis Direct is bullish on Bharat Heavy Electricals has recommended buy rating on the stock with a target price of Rs 200 in its research report dated June 06, 2017.

June 07, 2017 / 16:25 IST

live

bselive
nselive

Volume

Todays L/H

Axis Direct's research report on Bharat Heavy Electricals

BHEL’s Q4FY17 revenue at Rs 97 bn was down 3% YoY and missed our/consensus expectations of Rs 105 bn. EBITDA at Rs 6.5 bn was impacted by one-time provisions for gratuity and leave salary liabilities. Adjusted EBITDA at Rs 10.4 bn was significantly above our expectation of Rs 5.9 bn.

Outlook

We cut our FY18 EPS toRs 5.2 (vsRs 8.4 earlier) to factor in FY17 results and slower recovery in margin. Our revised TP of Rs 200 (vs 210 earlier) is based on 20x FY19E.

For all recommendations, 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.

first published: Jun 7, 2017 04:25 pm

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347