VA Tech Wabag - Q1FY14 Results - Kotak

VA Tech Wabag Q1FY14 results exceeded our estimates on most counts except the profit after tax. EBITDA margins have improved in India geography by a significant amount if adjusted for forex gains of Rs 60 mn in Q1FY13. Order intake has been robust in the quarter and the company looks well positioned to meet its order intake guidance. We retain our Buy rating and our target price of Rs 571.

Source : Equity Bulls

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