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Last Updated : Aug 03, 2020 04:20 PM IST | Source: Moneycontrol.com

Buy Control Print; target of Rs 270: ICICI Direct

ICICI Direct is bullish on Control Print has recommended buy rating on the stock with a target price of Rs 270 in its research report dated July 29, 2020.

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ICICI Direct's research report on Control Print


Control Print (CPL) reported revenue de growth of 31% YoY to Rs 35 crore. The subdued performance was largely on account of lockdown resulting into poor sales from printers. Better gross margins due to higher sales from consumables led OPM to sustained, which was at 24% against 26.9% in Q1FY20. EBITDA was down 38.5% YoY to Rs 8.5 crore. Adjusting the fair value of investments, PAT fell 43% YoY to Rs 5.4 crore.


Outlook


We value the company at 13x FY22E PER and arrive a target price of Rs 270. We have a BUY rating on the stock.


For all recommendations report, 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 on Aug 3, 2020 11:41 am
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