172@29@17@103!~!172@29@0@53!~!|news|business|stocks|hold-astral-poly-technik-target-of-rs-1009-east-india-securities-5666771.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false
Moneycontrol
Subscribe to PRO at just Rs.33 per month. Use code SUPERPRO
Last Updated : Aug 09, 2020 09:03 AM IST | Source: Moneycontrol.com

Hold Astral Poly Technik; target of Rs 1009: East India Securities

East India Securities is bullish on Astral Poly Technik has recommended buy rating on the stock with a target price of Rs 1009 in its research report dated August 07, 2020.

Broker Research
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

East India Securities' research report on Astral Poly Technik


Astral Poly Technik Ltd (Astral) reported a 33.4% YoY decline in revenue for Q1FY21 to Rs4,039 mn. The degrowth was on account of decline in both Plastics & Adhesives segments, which fell as it was hit hard by the lock-down. EBITDA for Q1FY21 stood at Rs543 mn a decline of 41.0% YoY, with margins at 13.4% lower by 174 bps YoY, due to lower Gross Margins. PAT however fell by 57.7% YoY to Rs199 mn due to higher depreciation and loss in JV. Going forward, we expect growth for the company in both the segments in coming quarters as demand has started recovering.


Outlook


We retain our HOLD rating on the stock of the company with revised higher target price of Rs 1008 (implying P/E of 45x FY22E).


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.

First Published on Aug 9, 2020 09:03 am
Sections