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    HomeNewsBusinessStocksHold IRB Infrastructure; target of Rs 100: ICICI Direct

    Hold IRB Infrastructure; target of Rs 100: ICICI Direct

    ICICI Direct recommended hold rating on IRB Infrastructure with a target price of Rs 100 in its research report dated August 13, 2019.

    Broker Research
    August 16, 2019 / 15:49 IST
       
       
      26 Aug, 2025 12:21
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      ICICI Direct's research report on IRB Infrastructure

      IRB Infrastructure’s (IRB) topline grew 15.3% YoY to Rs 1,773.0 crore on account of 15.0% YoY growth in construction revenues to Rs 1,167.2 crore. EBITDA margin declined 30 bps YoY to 48.2% but was better than our estimate of 41.5% mainly due to higher contribution from toll division. PAT declined 17.4% YoY to Rs 206.6 crore on account of higher finance cost and higher tax rate.

      Outlook

      Additionally, on construction business front, appointed date for balance two HAM projects remains key for construction revenue growth in FY20E. Hence, we maintain HOLD rating on the stock with a revised SOTP based TP of Rs 100/share.

      For all recommendations report, click hereDisclaimer: 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.

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      Broker Research
      first published: Aug 16, 2019 03:49 pm

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