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Last Updated : Aug 09, 2019 04:37 PM IST | Source: Moneycontrol.com

Hold Voltas; target of Rs 609: Prabhudas Lilladher

Prabhudas Lilladher recommended Hold rating on Voltas with a target price of Rs 609 in its research report dated August 08, 2019.

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Prabhudas Lilladher's research report on Voltas


Voltas remains confident of achieving annual margins of 11% in UCP segment led by 1) strong 1Q20 performance on the back of favourable summer season & delayed onset of monsoon 2) launch of new technology products in AC with rising share of inverter 3) expected savings in logistics and distribution costs post starting of Tirupati unit and 4) increased local sourcing. With uncertainty relating to elections behind and expected resumption of government spending on infrastructure, the MEP segment shall continue to focus on rural electrification and urban infrastructure projects.


Outlook


We estimate 14.5% EPS CAGR over FY19-21 and value the stock at 28x June21 EPS. Maintain Hold with a target price of Rs609.


For all recommendations report, click here

Disclaimer: 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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First Published on Aug 9, 2019 04:37 pm
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