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Buy Inox Leisure; target of Rs 325: ICICI Direct

ICICI Direct is bullish on Inox Leisure has recommended buy rating on the stock with a target price of Rs 325 in its research report dated May 03, 2017.

May 04, 2017 / 03:24 PM IST
 
 
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ICICI Direct's research report on Inox Leisure


Inox is the second largest multiplex player with 468 screens as on Q4FY17, has a 19% share of multiplex screens in India and 8% share of domestic box office collections. Inox is aiming at 517 screens by FY18E end, which would drive ad revenues for the company.


Outlook


Moreover, a strong content slate ahead would lead to an overall improvement in profitability. Going ahead, with levers such as GST implementation, which could be margin accretive, we maintain BUY and value Inox at 12.6x FY19E EV/EBITDA (10% discount to PVR) to arrive at target price of Rs 325/share.


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first published: May 4, 2017 03:24 pm

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