Views on MOIL 3QFY2014 results - Angel Broking

Views of Mr. Bhavesh Chauhan (Sr. Research Analyst - Metals & Mining, Angel Broking) on MOIL 3QFY2014 results:

MOIL adjusted PAT above estimate, Stock up 2.8%.

"MOIL's 3QFY2014 operating results and adjusted net profit came in above our expectations. Net sales increased by 15.5% yoy to Rs. 264cr (above our estimate of Rs. 251cr). EBITDA increased by 19.2% yoy to Rs. 137cr and EBITDA margin expanded by 161bps yoy to 51.9% due to higher sales. Other income increased by 77.2% yoy to Rs. 113cr which included a one-time write-back of provision worth Rs. 44cr. Excluding this write back, adjusted net profit was flat yoy at Rs. 114cr (above our estimate of Rs. 107cr). We keep our rating and target price under review."

MOIL 3QFY2014 Result Review (CMP: Rs. 216 / TP: -/ Upside: -)

Source : Equity Bulls

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