Hold Inox Leisure; target of Rs 270: Sharekhan
Sharekhan recommended Hold rating on Inox Leisure with a target price of Rs 270 in its research report dated August 06, 2020.
August 08, 2020 / 04:35 PM IST
Sharekhan's research repor on Inox Leisure
A wash-out quarter as expected. However, cost management remained robust amid shut-down of cinema; monthly cash burn was lowered by 25% to Rs 11 - 12 crores. The board has approved the enabling resolution for fund raising up to Rs 250 Cr through the issuance of Equity Shares/other securities after the re-opening of cinema. FY2021 is going to be a wash-out years owing to extended lockdown restrictions, risk of box office clashes in short window and subdued occupancy in 2HFY2021; modeled strong recovery in FY2022E.
We maintain our Hold rating on INOX Leisure Limited (ILL) owing to delay in return of normalcy and maintained our PT of Rs. 270.
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