Buy L&T Technology Services, target Rs 1940
L&T Technology Services Limited (LTTS) is one of the three listed subsidiaries of Larsen & Toubro Ltd. The company provides design and development solutions to clients across the entire value chain of product development. These includes solutions in the areas of mechanical and manufacturing engineering, embedded systems, software engineering and process engineering.
Buy Pidilite Industries, target Rs 1345
Pidilite Industries has been a pioneer in consumer and specialties chemicals in India. Its product range includes Adhesives and Sealants, Construction and Paint Chemicals, Automotive Chemicals, Art Materials, Industrial Adhesives, Industrial and Textile Resins and Organic Pigments and Preparations.
The company has reported a growth of 20 percent in its Q1-FY19 results at Rs 18,341 million as against Rs 15,289 million.
The company’s EBITDA margin stood at 20.8 percent at Rs 3,817 million as against 21 percent at Rs 3,210 million in Q1-FY18.
The PAT margins for the company stood at 13.1 percent at Rs 2,404 million in Q1-FY19 as against 14.8 percent at Rs 2,260 million in same quarter previous year.
Buy Aditya Birla Fashion, target Rs 237
India’s largest big box fashion retailer, Pantaloons is one of the fastest growing lifestyle apparel retail destinations in India. Driven by the better product mix and store rationalisation, Pantaloons’ 9.6 percent margin was its highest, expanding 330bps YoY.
On the strong profit growth, we raise our EBITDA margin estimate of Aditya Birla Fashionby 1 percent to 8.3 percent FY20E.
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