Jyoti Structures - (CMP/TP: Rs. 31/-) (Rating: Neutral) - Angel Broking

For 3QFY2014, we expect Jyoti Structures' top-line to grow by 12.6% yoy to Rs. 698cr. However, the operating margin is expected to contract by 70bp yoy to 9.4% as tough competition in the last few years has led to more aggressive bidding for projects. In spite of margin pressure, the company's net profit is expected to grow by 21.6% yoy to Rs. 16cr. We maintain our Neutral recommendation on the stock.

Source : Equity Bulls

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