Hold Greaves Cotton; target of Rs 84: Arihant Capital

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

Arihant Capital 's research report on Greaves Cotton

Greaves Cotton (GCL) reported weak set of numbers with revenue de-growth of 32% YoY was impacted due to decline in volumes amid auto slowdown and Covid-19 related lockdown. Decline in revenue and rise in cost due to BS-VI transition impacted operating performance of the company. EBITDA for the quarter declined by 56% YoY to Rs 306 mn while EBITDA margin contracted sharply by 475bps YoY to 8.5%. Adjusted PAT for the quarter fell by 70% YoY to Rs 151 mn.

Outlook

We downgrade our rating to ‘Hold’ from ‘Accumulate’ with revised target price of Rs 84.

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.

Read More