Moneycontrol PRO
Check Credit Score
Check Credit Score
HomeNewsBusinessStocks

Buy Hind Rectifiers; target of Rs 165: ICICI Direct

ICICI Direct is bullish on Hind Rectifiers has recommended buy rating on the stock with a target price of Rs 165 in its research report dated August 09, 2019.

August 13, 2019 / 12:55 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

ICICI Direct's research report on Hind Rectifiers

Hind Rectifiers (HRL) reported a beat in the operational performance for Q1FY20 across all parameters wherein topline, EBITDA, PAT grew 57.9%, 134.6%, 292.6%, respectively, YoY. Topline at Rs 68.3 crore was driven by a traction in order execution. EBITDA margins improved 470 bps to 14.5%. Absolute EBITDA came in at Rs 9.7 crore while PAT came in at Rs 5.2 crore. The company continues to benefit from the capex carried out by Indian Railways and is well placed to achieve ~20% topline growth in FY20E.

Outlook

Overall, we estimate topline, EBITDA and PAT growth at a CAGR of 16%, 33% and 42%, respectively. We reiterate our BUY recommendation on the stock with a target price of Rs 165 based on an estimated FY21E EPS of Rs 14.4/share.

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.

Broker Research
first published: Aug 13, 2019 12:55 pm

Discover the latest business news, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347