Nuvoco Vistas Gets Systematix 'Buy' Call As In Initiates Coverage

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Systematix Report

The buoyant industry landscape is fueled by strong demand, supported by government’s continued emphasis on housing and infrastructure. Nuvoco Vista Corporation Ltd.’s strong capacity expansion and strengthening presence in India’s western and eastern regions, operating efficiency and expected price hikes should boost its earnings.

Higher leverage is the reason why the company gets lower multiple vs peers. We expect this gap to narrow once free cash flow starts improving sharply FY28 onwards.

We value Nuvoco Vista at an EV/Ebitda of 10 times FY27E and arrive at a target price of Rs 540. Initiate coverage with a Buy.

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