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Hold Hatsun Agro; target of Rs 752: KRChoksey

KRChoksey recommended hold rating on Hatsun Agro with a target price of Rs 752 in its research report dated June 07, 2018.

September 18, 2018 / 05:03 PM IST
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KRChoksey's research report on Hatsun Agro

Hatsun Agro Ltd reported its Q4FY18 results, revenue stood at INR of 10.5 Bn (-13.6% YoY) due to subdued volume growth. EBIDTA stood at INR 756.2 Mn (-22.5% YoY), with OPM at 7.2% (-83 bps). The de-growth in margins were mainly due to higher operating expenses (+20.4% YoY). EBIDTA for FY18 stood at INR 3.7 Bn (-1.7% YoY), with OPM at 8.7% (-34 bps YoY). PAT for Q4FY18 stood at INR 24.8 Mn (-94% YoY), with NPM at 0.2% (-303 bps YoY).


At CMP of INR 720, the stock is trading at P/E of 89.5x for FY20E. We assign a P/E multiple of 93.5x and recommend ‘HOLD’ rating on the stock with the target price of INR 752 representing an upside of 4.5%.

For all recommendations report, click here

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first published: Jun 14, 2018 05:26 pm