Sadbhav Engineering - Q4FY13 Result Preview - Angel Broking

We expect Sadbhav Engineering (SEL) to post weak numbers on account of high base of 4QFY2012 and lower-than-expected execution. Revenue is expected to decline by 49.6% to Rs. 456cr. However, on a sequential basis, it implies a growth of 29%. EBITDA margin is expected to witness a jump of 89bp yoy to 10.4% on account of low EBITDAM posted in 4QFY2012 due to higher sub-contracting charges. On the earnings front, the company is expected to post a dip of 74.3% yoy to Rs. 12cr.

We maintain a Buy on the stock with a Target Price of Rs. 153.

Source : Equity Bulls

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