Dolat Capital's research report on Music Broadcast
MBL reported revenue growth of 9.9% YoY in FY18 to ` 2982mn which includes revenue from exchange of services of ` 196 as on 31st March, 2018 as compared to ` 150 mn as on 31st March 2017. EPS increased to ` 9.1 compared to ` 6.4 in FY17.
Outlook
We largely maintain our estimates and our BUY recommendation rollover to Sep’19 target price of ` 450 based on 16x one-year fwd. EV/EBITDA.
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