ICICI Direct recommended hold rating on Simplex Infrastructure with a target price of Rs 230 in its research report dated November 21, 2018.
ICICI Direct's research report on Simplex Infrastructure
Simplex Infrastructure’s (SIL) topline grew 18.7% YoY to Rs 1479.1 crore possibly on account of good execution in Q2FY19 The EBITDA margin contracted 171 bps YoY to 11.9% but was better than our expectation of 11.2% PAT de-grew 12.0% YoY to Rs 24.4 crore (our estimate: Rs 27.9 crore) mainly on lower-than-expected other income).
Hence, we maintain our HOLD recommendation on the stock with an SOTP based target price of Rs 230/share.
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