Electrosteel Castings - 4QFY2013 Result Review - Angel Broking

Electrosteel Castings reported its 4QFY2013 results. Its net sales decreased by 1.5% yoy to Rs. 495cr. The company's EBITDA grew by 717.1% yoy to Rs. 40cr mainly because of lower raw material costs and other expenditure. The other income rose by 135.8% yoy to Rs. 57cr and therefore it reported a net profit growth of 652.7% yoy to Rs. 44cr.

We maintain our Buy view on the stock with a target price of Rs. 26.

Source : Equity Bulls

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