Buy Gallantt Ispat; target Rs 291: Firstcall Research
Brokerage house Firstcall Research is bullish on Gallantt Ispat and has recommended buy rating on the stock with a target price of Rs 291 in its October 08, 2013 research report.
October 16, 2013 / 18:34 IST
Firstcall Research report on Gallantt Ispat
"Gallantt Ispat has reported net sales/income from operation of Rs. 1168.21 mn against Rs 923.18 mn a year ago. Profit from operations before other income, finance costs and exceptional items was Rs 93.63 mn compared to Rs. 76.19 mn reported a year ago. Profit from ordinary activities before tax was Rs 60.50 mn against Rs. 26.85 mn a year ago. Profit after tax, net profit for the period was Rs. 47.83 mn or Rs 1.68 per diluted share before and after extraordinary items compared to Rs 21.47 mn or Rs. 0.73 per diluted share before and after extraordinary items a year ago.""For the six months, the company reported net sales of Rs 2306.62 mn against Rs. 2029.28 mn a year ago. Profit from operations before other income, finance costs and exceptional items was Rs. 202.87 mn compared to Rs 134.98 mn reported a year ago. Profit before tax was Rs 130.94 mn against Rs. 34.66 million a year ago. Profit from ordinary activities after tax, net profit for the period was Rs. 103.49 mn or Rs. 3.63 per diluted share before and after extraordinary items compared to Rs. 27.73 mn or Rs. 0.95 per diluted share before and after extraordinary items a year ago.""Over FY2012-15E, we expect the company to post a CAGR of 31 percent and 65 percent in its top-line and bottom-line respectively. Hence, we recommend 'BUY' for 'Gallantt Ispat' with a target price of Rs 291 on the stock," says Firstcall Research report.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. 
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