GMDC - 4QFY2013 Result Review - Angel Broking

GMDC reported its 4QFY2013 results. The company's net sales declined by 17.5% yoy to Rs. 443cr. The Company's EBITDA however declined by a lower rate of 8.9% yoy to Rs. 224cr due to lower employee costs and power costs. The other income grew by 41.6% yoy to Rs. 34cr and as a result company's net profit declined by only 5.7% to Rs. 149cr.

We maintain our Buy view on the stock with a target price of Rs. 213.

Source : Equity Bulls

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