Motilal Oswal has maintained its buy rating on Simplex Infrastructures with a price target of Rs 296 in its March 24, 2009 research report.
“In 4QFY09 ytd, Simplex has witnessed order intake of Rs 15 billion in 4QFY09, and current order book is estimated at Rs 100 billion (similar to December 08 levels), book to bill ratio of 2.2xFY09 revenues. Order intake in 4QFY09 comprises of segments like industrials, power, urban infrastructure (Delhi, Bangalore Metro etc).We estimate earnings CAGR of 25.6% during FY09-FY11, driven by 14% revenue CAGR and lower interests cost during the same period. Maintain Buy with price target of Rs 296/sh (106% upside), based on PER of 8xFY10,” says Motilal Oswal’s research report.
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