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Last Updated : Nov 11, 2019 04:46 PM IST | Source: Moneycontrol.com

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.

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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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First Published on Nov 11, 2019 04:46 pm
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