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Buy Kalpataru Power Transmission target of Rs 590: Sharekhan

Sharekhan is bullish on Kalpataru Power Transmission has recommended buy rating on the stock with a target price of Rs 590 in its research report dated November 07, 2019.

November 11, 2019 / 16:46 IST
     
     
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    Sharekhan's research report on Kalpataru Power Transmission

    Healthy operational performance led by strong execution with 25% y-o-y growth in revenue was offset by an increase in below-operating line items that curbed profit before tax growth to 15% y-o-y. PAT growth of 39% y-o-y was led by tax benefits. KPTL increased its revenue growth guidance to 20%+ for FY2020 versus earlier 15-20% along with stable OPM of 10.5-11%. Order book visibility remains healthy across verticals viz. T&D, railways and oil and gas.

    Outlook

    We maintain our Buy rating with an unchanged PT of Rs. 590, while marginally revising estimates for FY2020-FY2021 upwards led by strong execution in H1FY2020.

    For all recommendations report, click here

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    Broker Research
    first published: Nov 11, 2019 04:46 pm

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