Kalpataru Power Transmission Q2FY18: Expecting a strong year ahead; Accumulate | Kalpataru Power Transmission Q2FY18 | IndiaNotes.com
The stock is trading at 14x core FY19EPS. We believe the strong outlook in domestic T&D market and increasing presence in high growth areas like Railways should help the company deliver 21% earnings CAGR over FY16-19E. We have increased our earnings by ~3% for FY18/19 to factor in better margins. Maintain Accumulate with revised TP of Rs 432 (Previous Rs 400).
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