Buy Kalpataru Power; target of Rs 385: Anand Rathi
Anand Rathi is bullish on Kalpataru Power has recommended buy rating on the stock with a target price of Rs 385 in its research report dated November 05, 2020.
November 09, 2020 / 03:15 PM IST
Anand Rathi 's research report on Kalpataru Power
Kalpataru’s revenue and margins were in line with expectations. Its healthy order book and execution ramp-up at various sites helped management stay upbeat and retain 5-10% revenue growth guidance. Till now, FY21 orders of Rs32.3bn were booked in its international T&D business largely (76% of inflows). The Rs123bn order book is well diversified across various businesses. Backed by a robust bid pipeline, management maintained its order-inflow guidance of Rs90bn-100bn.
With in-line results, we keep our estimates unchanged and maintain our Buy rating with a sum-of-parts-based target of Rs385.
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