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Buy Sadbhav Engineering; target of Rs 75: Sharekhan

Sharekhan is bullish on Sadbhav Engineering has recommended buy rating on the stock with a target price of Rs 75 in its research report dated July 10, 2020.

July 17, 2020 / 01:10 PM IST
 
 
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Sharekhan's research report on Sadbhav Engineering

SEL reported weak execution during Q4FY2020, led by issues plaguing Right of Way in HAM projects and COVID-19 led lockdown. Adjusted for exceptional gain, SEL posted standalone net loss. Management expects to revert to normal quarterly revenue run-rate from Q3FY2021 and strong jump in revenue in FY2022. Stake sale in assets leads to meaningful de-leveraging. Merger of SIPL with SEL isexpected to complete by March 2021. Receives appointed dates for all HAM projects.

Outlook

We maintain our Buy rating on Sadbhav Engineering Limited (SEL) with a revised PT of Rs. 75, factoring lower valuation of its listed subsidiary Sadbhav Infrastructure Projects Limited (SIPL).


For all recommendations report, click here

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Broker Research
first published: Jul 17, 2020 12:56 pm

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