BHEL - Q1 FY14 Result Analysis - Microsec

The company's Total Income decreased by 23% YOY to INR6458 crore YOY while it's EBITDA decreased by 68% YOY to INR389 crore. EBITDA Margin of the company decreased from 14.2% to 6.0% YOY. Adjusted PAT decreased by 49% YOY to INR465crore. The Result of the company was very disappointing and well below estimates. Outstanding Order Book as on 30th June 2013 came at INR108600 crore.

At the CMP of INR149, the stock discounts its FY14 EPS of INR14.5 by 10.2x We Maintain SELL on the STOCK.

Source : Equity Bulls

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