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Last Updated : Feb 13, 2019 03:25 PM IST | Source: Moneycontrol.com

Buy Indian Hotels Co; target of Rs 189: Motilal Oswal

Motilal Oswal is bullish on Indian Hotels Co has recommended buy rating on the stock with a target price of Rs 189 in its research report dated February 12, 2019.

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Motilal Oswal's research report on Indian Hotels Co


IHIN's consol. revenue grew 11% YoY to INR13.2b (our estimate: INR13.1b) in 3QFY19. EBITDA increased 20% YoY to INR3,355m (our estimate: INR3,402m), with the margin expanding 190bp YoY to 25.4% (our estimate: 26.0%). Adj. PAT rose 36% YoY to INR1,208m (our estimate: INR1,393m). For 9MFY19, consol. revenue grew 10.5% YoY to INR32.7b, with margin expansion of 230bp YoY to 16.7% (EBITDA up 28.1% YoY to INR5,454m).


Outlook


On an SOTP (consol. and JV & associate) basis, we arrive at a TP of INR189, implying an upside of 39%. Maintain Buy.


For all recommendations report, click here


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First Published on Feb 13, 2019 03:25 pm
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