NDTV Profit's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Prabhudas Lilladher Report
Indraprastha Gas Ltd. reported weaker than expected Q3 results with an Ebitda/profit after tax of Rs 5.6 billion (down 14% QoQ, our estimate: Rs 6.8 billion) and Rs 3.9 billion (down 27% QoQ, our estimate: Rs 4.7 billion).
IGL's drag in earnings was primarily led by lower than anticipated sales volume. Ebitda/standard cubic metre came in at Rs 7.2, down 16% QoQ.
Going ahead, we build in a conservative volume growth compound annual growth rate of 7% over FY24-26E with an Ebitda/scm of Rs 7.
The stock is currently trading at 16.4 times FY26 EPS and 10 times FY26 enterprise value/Ebitda.
We maintain ‘Hold' rating with a target price of Rs 382 (earlier Rs 416) based on 14 times FY26E standalone EPS and adding the value of investments.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
