STL reported healthy 3QFY18 financial performance. Strong volume growth across all the segments helped the company to report 33% YoY increase in revenues. EBITDA for the quarter stood at Rs230mn, 24% higher over adjusted 3QFY17 EBITDA. Company reported Rs126mn PAT, 52% growth over 3QFY17 adjusted PAT. We remain positive on healthy volume growth outlook for the automobile industry. Accordingly, STL's revenues are expected to grow strongly. Going ahead, tie-up with Meidoh is expected to help STL garner additional business in the passenger vehicle business. We expect the company to maintain healthy EBITDA margin level in FY19/FY20. We rate the stock as ACCUMULATE (earlier BUY) with revised price target of Rs428 (earlier 350).
Shares of STERLING TOOLS LTD.-$ was last trading in BSE at Rs.395.5 as compared to the previous close of Rs. 390.4. The total number of shares traded during the day was 1869 in over 461 trades.
The stock hit an intraday high of Rs. 396 and intraday low of 390.7. The net turnover during the day was Rs. 737794.