Buy Alicon Castalloy; target of Rs 999 Sharekhan

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Sharekhan's research report on Alicon Castalloy

Reported APAT at Rs 18.2cr in Q2FY24 against estimate of Rs 17.1cr. Order book continues to be strong and reached to Rs 8687 cr for Fy23 – 29E. Stock trades at P/E multiple of 10.8x and EV/EBITDA multiple of 5.5x its Fy26 estimates.

Outlook

We maintain our Buy rating on Alicon Castalloy Limited (ACL) with a target price of Rs. 999 on the robust order book, expecting improvement in operating margin led by better product mix and its focus on EV projects.

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Alicon Castalloy - 09 - 10-2023 - khan