IVRCL - Q4FY13 Result Preview - Angel Broking

We expect IVRCL to continue with its poor performance in 4QFY2013. On the revenue front, it is expected to post a yoy decline of 4.9% to Rs. 1,520cr on the back of slowdown in execution. On the EBITDA margin front, we expect an expansion of 226bp yoy to 8.7%. The company is expected to post a bottom-line loss of Rs. 22cr vs a profit of Rs. 5cr in 4QFY2012, primarily on account of slowdown in execution and higher interest costs for the quarter.

We maintain a Buy rating on the stock with a Target Price of Rs. 35.

Source : Equity Bulls

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