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Buy Inox Leisure; target of Rs 495: ICICI Direct

ICICI Direct is bullish on Inox Leisure recommended buy rating on the stock with a target price of Rs 495 in its research report dated January 24, 2022.

January 31, 2022 / 11:55 AM IST
The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

The research firm ICICI Securities believes earnings of apparel brands and retail companies under their coverage may surprise positively from Q3FY22E as the likely demand recovery may result in better than expected margin performance. Some of the costs savings achieved during pandemic may sustain and coupled with high operating leverage may lead to higher than pre-covid margins from Q3FY22E.  Stocks like Trent, V-Mart and Aditya Birla Fashion and Retail are the preferred picks backed by their strong and consistent track record of execution.

 
 
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ICICI Direct's research report on Inox Leisure


Inox Leisure is the second largest player in terms of multiplex screen count in India. Currently, the company operates 667 screens in 158 cinemas in 70 cities in India with an aggregate seating capacity of ~1.51 lakhs seats. It is the only national multiplex, which enjoys a net debt free balance sheet.


Outlook


We maintain BUY rating on the company. We value Inox at Rs 495 i.e. 11.5x FY24E EV/EBITDA.


More Info on Trent

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At 11:52 hrs INOX Leisure was quoting at Rs 415.55, up Rs 24.25, or 6.20 percent.

It has touched an intraday high of Rs 415.55 and an intraday low of Rs 395.60.

It was trading with volumes of 14,722 shares, compared to its thirty day average of 32,177 shares, a decrease of -54.25 percent.

In the previous trading session, the share closed up 0.09 percent or Rs 0.35 at Rs 391.30.

The share touched its 52-week high Rs 466.10 and 52-week low Rs 241.90 on 08 November, 2021 and 19 April, 2021, respectively.

Currently, it is trading 10.85 percent below its 52-week high and 71.79 percent above its 52-week low.

Market capitalisation stands at Rs 5,083.80 crore.

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first published: Jan 31, 2022 11:55 am
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