Godawari Power and Ispat - 4QFY2013 Result Review - Angel Broking

Godavari power reported its 4QFY2013 results. The company's net sales declined by 5.0% yoy to Rs. 624cr mainly because of lower volumes and realisations. The Company's EBITDA however declined by 20.6% yoy to Rs. 77cr due to higher costs. The company reported other income of Rs. 5cr and it got a tax benefit of Rs. 33cr which led to the company reporting a net profit growth of 88.0% to Rs. 64cr.

We maintain our Buy view on the stock with a target price of Rs. 118.

Source : Equity Bulls

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