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Last Updated : Mar 07, 2019 02:45 PM IST | Source: Moneycontrol.com

Hold V-GUARD Industries; target of Rs 207: Geojit

Geojit recommended hold rating on V-GUARD Industries with a target price of Rs 207 in its research report dated February 05, 2019.

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Geojit's research report on V-GUARD Industries


V-Guard Industries Ltd (VGIL) is one of the leading players in electrical consumer durables space. Major product segment includes Stabilizers, Cables & Wires, UPS, Pumps and Electrical Appliance. Q3FY19 revenue grew by 12% but PAT declined by 6% YoY. EBITDA margin fell by 180bps YoY to 7.6% on account of volatility in commodity prices & INR depreciation.


Outlook


We roll forward to FY21E and value VGIL at 34x, but given premium valuation and near-term pressure on margins we downgrade to “Hold” from Accumulate with a target price of Rs207.


For all recommendations report, click here


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First Published on Mar 7, 2019 02:45 pm
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