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.
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).
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
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.