Buy Greaves Cotton; target of Rs 175: Edelweiss

Edelweiss is bullish on Greaves Cotton has recommended buy rating on the stock with a target price of Rs 175 in its research report dated February 16, 2017.

February 21, 2017 / 15:18 IST

26 Aug, 2025 12:21

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Edelweiss' research report onGreaves Cotton

Greaves Cotton’s (Greaves) Q3FY17 EBITDA margin (at 15.1%) dipped 180bps impacted by negative operating leverage and adverse product mix, as auto engine volumes fell more than 15% hurt by demonetisation, though has picked up in February.

Outlook

While revenue growth and earnings are expected to gather pace gradually, we like Greaves’s cost-based leadership position in 3W industry. Also, with average FCF of INR1bn plus, surplus cash position and RoE profile of 20% plus, we maintain ‘BUY’.

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first published: Feb 21, 2017 03:18 pm

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