Buy NCL Industries; target of Rs 185: Anand Rathi
Anand Rathi is bullish on NCL Industries has recommended buy rating on the stock with a target price of Rs 185 in its research report dated November 14, 2018.
November 22, 2018 / 02:31 PM IST
Anand Rathi's research report on NCL Industries
Its subdued operating performance and higher fixed costs on account of new capacities pushed down NCL’s Q2FY19EBITDA and PAT respectively 14% and 21% y/y. The expected drop in interest cost (on replacing high-cost NCDs), recovering Board margins, anticipated operational savings and robust demand would, we expect, help revive NCL’s performance. We retain our Buy rating, with a lowerTP of `185.
We retain our Buy rating, at a target `185 on 6.5x FY20e EV/EBITDA.
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