Inox Wind - 3QFY17 Result Update - Concerns over Working Capital to Recede; Valuation Attractive - Reliance Securities

We expect INXW's revenue and earnings to witness 7.0% and 8.2% CAGR, respectively over FY16-19. We believe that strong outstanding order book and impeccable execution capabilities will continue to drive INXW's profitability and healthy returns over next few years. On the back of strong revenue, earnings visibility and robust return ratios, we reiterate our recommendation on the stock with an unrevised Target Price of Rs258, valuing the stock at 10x FY19E earnings.

Source : Equity Bulls

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