Moneycontrol Be a Pro
Get App
Last Updated : Sep 18, 2018 02:22 PM IST | Source: Moneycontrol.com

Hold Hatsun Agro; target of Rs 652: KR Choksey

KR Choksey recommended hold rating on Hatsun Agro with a target price of Rs 652 in its research report dated July 23, 2018.

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

KR Choksey's research report on Hatsun Agro


Revenue in Q1FY19 stood at INR 12.3 Bn (+5.9% YoY), which was marginally below our estimates of INR 12.9 Bn. The top line was mainly driven by value added products, Aroon Ice-creams and better demand across all the categories. EBIDTA stood at INR 1.2 Bn (+18.9% YoY), with OPM at 9.9% (+108 bps YoY). The reduction in milk prices and purchase of other finished goods has resulted in better operating margins. PAT stood at INR 378.6 Mn (+7.6% YoY), with NPM at 3.1% (+5 bps YoY).


Outlook
At CMP of INR 630, the stock is trading at P/E of 78x for FY20E. We assign a P/E multiple of 81x and recommend ‘HOLD’ rating on the stock with the target price of INR 652 representing an upside of 3.4%.


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.




The Great Diwali Discount!
Unlock 75% more savings this festive season. Get Moneycontrol Pro for a year for Rs 289 only.
Coupon code: DIWALI. Offer valid till 10th November, 2019 .
First Published on Jul 26, 2018 05:15 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant