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.
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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