Sharekhan is bullish on Inox Leisure has recommended buy rating on the stock with a target price of Rs 415 in its research report dated October 23, 2019.
Sharekhan's research report on Inox Leisure
Given strong upcoming content pipeline and increasing footfalls monetisation efforts, we expect revenue CAGR of 19.2% over FY19-21E. H2FY2020 to see bulk of the screen additions (44 out of 71 envisaged for FY2020), as Q2FY2020 saw just 6 screen additions owing regulatory hurdles (licence awaited). IIL delivered strong performance in Q2FY2020 (beat estimates on all fronts) led 39% y-o-y growth in footfalls to 19 mn and 48% y-o-y growth in F&B revenues to Rs 141 crores.
We retain our Buy rating on INOX Leisure Limited (ILL) with revised PT of Rs 415.
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