Buy Vakrangee; target Rs 94: Firstcall Research
Brokerage house Firstcall Research is bullish on Vakrangee and has recommended buy rating on the stock with a target price of Rs 94 in its November 29, 2013 research report.
December 04, 2013 / 13:57 IST
Firstcall Research report on Vakrangee
"During the quarter, Vakrangee Ltd reported Net Sales stood at Rs 4263.77 million as against Rs. 3613.58 million for the corresponding quarter last year, registering a growth of 17.99 percent. In Q2 FY14, EBITDA was increased to Rs. 1224.69 millions as against Rs. 914.03 millions for the corresponding quarter last year, registering a growth of 33.99 percent. EBITDA margin is 28.72 percent as against 25.29 percent for the corresponding quarter last year. PAT stood at Rs. 437.61 million in Q2 FY14 as against Rs. 245.00 million for the corresponding quarter last year, registering a growth of 78.61 percent. PAT margin is 10.26 percent as against 6.78 percent for the corresponding quarter last year. EPS (basic) for the face value of Rs. 1 stood at Rs. 0.87 in Q2 FY14 as against Rs. 0.49 in Q2 FY13.""The Company currently implementing Election related projects, UID Enrollment, Direct Benefit Transfer through Financial Inclusion, Public Distribution System, Common Service Centres, National Population Register, E-Mitra, Land Records and IGRS. Over FY2012-15E, we expect the company to post a CAGR of 11 percent and 35 percent in its top-line and bottom-line respectively. Hence, we recommend 'BUY' on the stock with a target price of Rs 94," says Firstcall Research Report. Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions. 
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