ICICI Direct recommended hold rating on Ashoka Buildcon with a target price of Rs 120 in its research report dated February 13, 2020.
ICICI Direct's research report on Ashoka Buildcon
Ashoka Buildcon’s (ABL) revenues de-grew 7.7% YoY to Rs 983.6 crore on account of the impact of prolonged monsoons in certain regions. EBITDA margins contracted 132 bps YoY to 12.6%. RPAT grew 37.6% YoY to Rs 85.5 crore (our estimate: Rs 97.0 crore) on account of a lower tax rate (24.2% in Q3FY20 vs. 31.2% in Q3FY19) and higher other income at Rs 36.9 crore in Q3FY20 vs. Rs 25.4 crore in Q3FY19.
We maintain our SoTP-based target price of Rs 120/share but assign a HOLD rating post the ~12% run up in the stock price since our last update.
For all recommendations report, click here
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.
Time to show-off your poker skills and win Rs.25 lakhs with no investment. Register Now!