Moneycontrol
Get App
Last Updated : Aug 13, 2019 12:55 PM IST | Source: Moneycontrol.com

Buy Hind Rectifiers; target of Rs 165: ICICI Direct

ICICI Direct is bullish on Hind Rectifiers has recommended buy rating on the stock with a target price of Rs 165 in its research report dated August 09, 2019.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

ICICI Direct's research report on Hind Rectifiers


Hind Rectifiers (HRL) reported a beat in the operational performance for Q1FY20 across all parameters wherein topline, EBITDA, PAT grew 57.9%, 134.6%, 292.6%, respectively, YoY. Topline at Rs 68.3 crore was driven by a traction in order execution. EBITDA margins improved 470 bps to 14.5%. Absolute EBITDA came in at Rs 9.7 crore while PAT came in at Rs 5.2 crore. The company continues to benefit from the capex carried out by Indian Railways and is well placed to achieve ~20% topline growth in FY20E.


Outlook


Overall, we estimate topline, EBITDA and PAT growth at a CAGR of 16%, 33% and 42%, respectively. We reiterate our BUY recommendation on the stock with a target price of Rs 165 based on an estimated FY21E EPS of Rs 14.4/share.

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.



Subscribe to Moneycontrol Pro and gain access to curated markets data, trading recommendations, equity analysis, investment ideas, insights from market gurus and much more. Get Moneycontrol PRO for 1 year at price of 3 months at 289. Use code FREEDOM.
First Published on Aug 13, 2019 12:55 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant