ULJK Securities has recommended an accumulate rating on Sesa Goa with a target price of Rs 131 in its research report.
“Sesa Goa has announced its fourth quarter results and it was in line with
our expectations. The company’s consolidated Q4 FY09 net sales were
down 14.9% yoy at Rs 14299 million versus Rs 16813 mn and its net profit
was down 32.5% yoy at Rs 5476 million versus Rs 8116 million. The OPM for the quarter was at 52.7% versus 72.4%. We have valued Sesa Goa on EV/EBITDA basis, giving a target EV/ EBITDA of 3 and recommend a accumulate rating for the stock with a target price of Rs 131,” says ULJK Securities’ research report.
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