PVR - 4QFY2013 Result Preview - Angel Broking

For 4QFY2013, we expect PVR to report robust 40% yoy growth in top-line to Rs. 164cr, on back of good performance in movie exhibition business, with many successful releases during the quarter. The company's EBITDA margin is likely to expand by robust 1,353bp yoy to 17.1% (aided by very low base effect). Consequently, Net profit is expected to be Rs. 6cr.

At the current market price, PVR is trading at 14.3x FY2015E consolidated EPS of Rs. 22.9. We believe the stock is fairly valued and hence, maintain our Neutral rating on the stock.

Source : Equity Bulls

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