* B L Kashyap (KASH IN, INR 30)*
· Strong revenue visibility with order book of ~ INR 40 bn which is ~4.0x its FY10 revenues. Order intake robust for H1FY11 at ~INR 16 bn; BLK is also trying to enhance its presence in urban infra & airports space to broad base its future order inflows. · Debt levels to reduce from 0.8x currently to 0.7x by FY12E end as monetization of its realty projects is expected to begin in next couple of months. EBITDA margins to increase from 8.3% in FY10 to 9% in FY12E as operating leverage kicks in from strong revenue growth & reducing debt levels. · *At INR 30, KASH trades at P/E of 12.0x and 8.3x for FY11E and FY12E numbers. We believe there are upside risks to our estimates, particularly for FY12. * -- For Anything related with Stock market be Online at http://www.niftyviews.com/ Get free updates on your mobile phone. Sms "Join TSR " and send to 09223492234 FOR TRIAL STOCK/NIFTY/OPTION CALLS You received this message because you are subscribed to Google Group "STOCKRESEARCHER" group. To post to this group, send an email to [email protected] To unsubscribe email [email protected] for more info visit http://groups.google.com/group/STOCKRESEARCHER?hl=en-GB . This is Not a Spam Mail. Disclaimer :- "The opinions expressed by the members on this board are based on their individual experience and perceptions and to share information with other members with the best of intentions to help fellow members in investment decisions as equity investment is a risky venture."
