Ajcon Global is bullish on Gayatri Projects has recommended buy rating on the stock with a target price of Rs 191 in its research report dated February 23, 2017.
Ajcon Global's report on Gayatri Projects
The Company’s topline in Q3FY17 witnessed an increase of 23.4 percent to Rs. 520.5 crore on yoy basis and on QoQ basis, topline witnessed a robust jump by 48.7 percent owing to faster execution. However, revenue growth missed our estimate for the quarter partially impacted by extended monsoon and demonetisation effect in the initial period – payment to workers.
In Q3FY17, EBITDA grew by 37.1 percent on yoy basis to touch Rs. 83crs. On Qoq basis, it increased by whopping 50.9 percent. EBITDA margin witnessed an improvement of 158.3 bps on yoy basis to touch 15.93% from 14.21%. Operating margins remained stable despite significant mobilization expenses at the new sites.
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First Published on Feb 27, 2017 04:19 pm