Tide Water Oil Company (India) Ltd. - Q3 FY14 Result - Quick View - CMP Rs.7,635, Maintain BUY - INVESt VISTa - Sushil Finance

TIDE WATER OIL COMPANY (INDIA) LTD. - CMP Rs.7,635, Maintain BUY - Q3 FY14 RESULT QUICK VIEW

During Q3 FY14, the Company showcased a healthy performance with 9.2% top-line growth on an annual basis and 15.9% growth in revenues on sequential basis; In addition, the profitability registered an improvement as well; the EBITDA margins improved on account of lower other expenditures, as a percentage of revenues. Moreover, the bottom-line further improved owing to lower effective tax rate.

During our previous update (Q2 FY14 Quick View, dated November 21, 2013) we had recommended BUY at the price of Rs.7,002. We maintain our BUY rating for the stock for our target price of Rs.8,691.

Source : Equity Bulls

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