Get App
Moneycontrol

Co-Partners

Associate Partners

Last Updated : May 06, 2019 04:14 PM IST | Source: Moneycontrol.com

Hold Greaves Cotton; target of Rs 150: ICICI Direct

ICICI Direct recommended hold rating on Greaves Cotton with a target price of Rs 150 in its research report dated May 03, 2019.

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

ICICI Direct's research report on Greaves Cotton


Greaves Cotton’s (GCL) revenues came in at Rs 528.1 crore, up 8.6% YoY, marginally above our estimate of Rs 521.7 crore. EBITDA came in flat at Rs 70.0 crore YoY (below our estimate of Rs 73.0 crore). EBITDA margins came in at 13.3% with a decline of 110 bps YoY and below our estimate of 14.0%. PAT came in at Rs 37.4 crore, down 34.0% YoY (below our estimate of Rs 51.6 crore) mainly impacted by one-time exceptional item of Rs 12.9 crore towards provision for fixed deposits with IL&FS, which impacted PAT for the quarter.


Outlook


The board of Greaves Cotton has approved a proposal to buy back up to 1.37 crore shares being 5.6% of total paid-up equity capital at a tender price of Rs 175/share for an aggregate amount not exceeding Rs 240 crore.


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.



Get Lok Sabha 2019 Live Election Results, constituency-wise tally, news, views and analysis
Follow our Lok Sabha Election Result Live Blog here.
First Published on May 6, 2019 04:14 pm
More From
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant