1 INDUSTOWER share price target reports by brokerages below. See what is analyst's view on INDUSTOWER share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
Company reported average set of numbers for the quarter. Revenues stood at Rs. 1682.1 cr in quarter ended in Mar 2020 as compared to Rs. 1667.2 cr in Dec 2019 quarter and Rs 1675.8 cr in the quarter ended in Mar 2019. The Company reported flat numbers with growth of 0.89% on QoQ basis and 0.38% on a YoY basis. The Company has shown decrease in its operating profits by 0.18% on QoQ basis but increase by 8.35% on YoY basis. PAT of the company decreased by 18.68% on QoQ basis but increased by 6.9%on YoY basis to Rs. 649.5 cr in Mar 2020 quarter. EPS stood at Rs. 3.51 per share in the relevant quarter vs Rs 4.32 per share in the last quarter and Rs 3.29 per share in Mar 2019 quarter. For the FY2020, revenue decreased by 1.22% and PAT increased by 32.28%. Whereas, EPS showed growth of 32.25% over previous FY
We believe that BHIN’s competitive position is weakening. While its top tenant VIL’s market standing and ability to invest continues to deteriorate, the evolution of RJio with its own tower base and InvIT could reduce the viability of BHIN’s operations. Thus, we remain cautious on the future prospects of BHIN. We value BHIN on an SOTP basis and assign EV/tenancy of 1.7m and EV/EBITDA of 5x on FY22E to arrive at a TP of INR170. The stock is trading at 4x on FY22E with dividend yield of 9.8%, which should provide cushion from the downside. Maintain Neutral.
The key risk for Infratel is on tenancy growth concerns and possibly in worst case, Vodafone Idea’s survival (it is an anchor tenant). While there are large opportunities in adjacent areas over the long term (viz small cells/smart cities/in building solutions), near/medium term challenges cannot be ruled out. Therefore, we maintain our HOLD recommendation with a DCF based target price of Rs 175/share. Our target price implies 5x FY22E EV/EBITDA.
We note the key risk for Infratel is on tenancy growth concerns, pricing and terms of payments (as telcos continue to struggle at operating levels) and possibly in worst case, Vodafone Idea’s survival (it is an anchor tenant).Notwithstanding, the company’s belief on capitalising on large opportunities in adjacent areas, near/medium term challenges cannot be ruled out. Therefore, we maintain our HOLD recommendation with a DCF based target price of | 270/share. Our target price implies 6.5x FY21E EV/EBITDA on the merged entity proforma financials.
Valuation & Outlook: We note the key risk for Infratel is on tenancy growth concerns, pricing (as telcos continue to struggle on operating levels) and possibly in worst case, Vodafone Idea’s survival (it is an anchor tenant). Moreover, there will also be share price overhang as none of Bharti Airtel, Vodafone Group or Vodafone-Idea (if it elects to receive shares), will be subject to a lock-in on their shareholdings post-merger. Therefore, we maintain our HOLD recommendation with a target price of | 275/share. Our target price implies 6.5x FY21E EV/EBITDA on the merged entity proforma financials.
Despite BHIN’s recent sharp stock price correction, we see limited upside triggers. Growth hinges on Bharti/VIL’s capex intensity, which is yet unclear. Thus, we maintain Neutral with TP of INR290, implying EV/tenancy of INR2.9m and EV/tower of INR5.3m for FY21. But, the stock is trading at 8x FY20/21E EBITDA with a ~6% dividend yield, which should provide a floor for any downside risk.
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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