BSE Code: | NSE Code: | ISIN: | Sector:
Research Report Detail
|Report Date||Call||Price@Call||Target Price
|Current Status||Time Horizon|
|Target Hit|| Long (1Y)
Reliance Securities maintains buy on Skipper
delivered a strong performance in 1QFY18 as well with its net revenue
growing by 39.6% YoY to Rs4.32bn led by healthy performance in
Engineering Products and Infra Projects segments. Looking ahead, we
expect Skipper's sales and PAT to witness 15.0% and 24.6% CAGR,
respectively over FY17-FY19E, while RoCE is seen at 22.4% by FY19E.
Given higher revenue visibility and huge imminent opportunities, we
increase our target multiple to 15x FY19 earnings from 12x earlier.