Views on MBL Infrastructure Ltd 1QFY2016 Results - Angel Broking

Views of Mr. Santosh Yellapu (Sr. Research Analyst - Infrastructure, Angel Broking) on MBL Infrastructure Ltd 1QFY2016 Results:


Good set of 1QFY2016 numbers, maintain BUY

"MBL reported consolidated sales of INR 613cr, up 19.5% yoy (ahead of our estimate of INR 590cr). MBL reported EBITDA margins of 11.0% slightly ahead of our 10.8% expectations. Reported EBITDA margins were flat on yoy basis. Lower tax rate and restricted 10.8% yoy increase in depreciation expenses, helped the company report better PAT margins of 4.9% for 1QFY2016 (ahead of our 4.5% estimate).

Considering strong bid pipeline from NHAI & MoRTH, coupled with MBL's strong market positioning, comforts us that MBL should see increase in its order inflow numbers, going forward. This should further translate to stronger execution and improvement in the profitability. Considering the visibility over the future growth prospects and attractive valuations, we maintain our BUY rating on the stock."

Shares of MBL Infrastructures Ltd was last trading in BSE at Rs.238.5 as compared to the previous close of Rs. 251.4. The total number of shares traded during the day was 9841 in over 331 trades.

The stock hit an intraday high of Rs. 256 and intraday low of 231.6. The net turnover during the day was Rs. 2387592.

Source : Equity Bulls

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