Sharekhan is bullish on Kalpataru Power Transmission has recommended buy rating on the stock with a target price of Rs 545 in its research report dated February 11, 2020.
Sharekhan's research report on Kalpataru Power Transmission
Healthy execution, stable operating margins and lower tax rate leads to adjusted net profit growth of 23% y-o-y. Management trimmed its revenue growth guidance to 18-20% for FY2020 versus earlier 20%+ y-o-y along with stable OPM of 10.5-11% for FY2020. Order book remains healthy providing 1.8x TTM revenues and order inflow expected to remain at the lower end of the guidance of Rs 9000 crore for FY2020.
We maintain our Buy rating on KPTL with a revised PT of Rs. 545 fine tuning the estimates for FY20-21 and have also rolled forward our valuation multiple to FY2022E standalone earnings and revised valuation on JMC Projects.
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