PSP Projects Ltd. News and Updates

Name: Latest research reports of PSP Projects Ltd. authored by ICICI Direct and published by - Trendlyne research reports.
Item: PSP Projects Ltd.
Rating: 5
Author: ICICI Direct

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PSP Projects Ltd.

19 Jan 2023

633.20

0.50%

HSIE Results Daily: IndusInd Bank, ICICI Prudential Life, PSP Projects

Accumulate: PSP Projects Ltd.

HDFC Securities

PSP Projects: PSP Projects (PSP) reported yet another weak quarter, with revenue/EBITDA/APAT of INR 5/0.6/0.4bn, thereby missing our estimates at all levels. PSP continues to disappoint with slower-than-expected execution ramp-up in Q3FY23. Its entire order book (OB) (excl. Bhiwandi and Pandharpur forming 14%) is under execution. The current bid pipeline stands at INR 45bn, of which 70% orders are from Gujarat and 60% are private. The revenue guidance for FY23/24 stands at ~INR 21/27bn, with margin of 11-13% and an order inflow (OI) of ~INR 40bn. Given a robust OB and likely higher execution in the near term, we recalibrate our FY24/25 EPS higher and increase our TP to INR 764/sh (13x Dec-24E EPS). However, due to the recent rally in the stock price and limited upside on our TP, we downgrade our rating to ADD. IndusInd Bank: IndusInd Bank (IIB) reported its highest-ever quarterly earnings, largely on account of steady loan growth (+19% YoY), stable margins, sustained traction in fee income and lower credit costs (1.7% annualised). Gross slippages at 2.3% witnessed some deterioration in the CV/CE portfolio and partial fallout from the restructured book, ex of which the back-book appears to be incrementally stabilising. IIB managed to garner retail deposits in the form of CA and TD from select affluent and NRI pockets, resulting in an overhang on its funding costs. Given its historically sub-par/non-sticky deposit profile, we believe IIB would continue to face challenges in a deposit-constrained environment, given the narrowing wedge with loan growth. We tweak our FY23E/FY24E estimates to factor in...

PSP Projects Ltd. is trading above its 50 day SMA of 629.7

PSP Projects Ltd.

19 Jan 2023

633.20

0.50%

PSP Projects

Buy: PSP Projects Ltd.

Target

ICICI Direct

PSP Projects Ltd. is trading below its 100 day SMA of 641.0

PSP Projects Ltd.

19 Jan 2023

633.20

0.50%

PSP Projects: Q3FY23 Result Review

Buy: PSP Projects Ltd.

Target

IDBI Capital

PSP Projects Ltd. has an average target of 705.75 from 4 brokers.

PSP Projects Ltd.

19 Jan 2023

633.20

0.50%

PSP Projects Ltd. | Q3FY23 Result Update

Buy: PSP Projects Ltd.

Target

Edelweiss

Dismal performance due to poor execution

PSP Projects Ltd. is trading below its 100 day SMA of 641.0

PSP Projects Ltd.

19 Jan 2023

633.20

0.50%

Result Update:PSP Projects

Buy: PSP Projects Ltd.

Target

Axis Direct

We maintain our BUY rating on the stock with a TP of Rs 800/share, implying an upside potential of 15% from the CMP.

PSP Projects Ltd. is trading below its 100 day SMA of 641.0

PSP Projects Ltd.

20 Dec 2022

633.20

0.50%

PSP Projects soars 9% to hit record high on strong revenue visibility

Business Standard

So far in the financial year 2022-23 (FY23), PSP received total orders worth of Rs 1,833.09 crore

PSP Projects Ltd. is trading below its 100 day SMA of 641.0

Broker's call: PSP Projects (Buy)

Business Line | 19 Dec 2022

PSP Projects Ltd.

19 Oct 2022

633.20

0.50%

Result Update:PSP Projects

Buy: PSP Projects Ltd.

Recommendation Target

Axis Direct

We value the company at 11x FY24E EPS to arrive at the TP of Rs 680/share, implying an upside potential of 19% from the CMP. We retain our BUY rating on the stock.

PSP Projects Ltd. is trading above its 50 day SMA of 629.7

PSP Projects Ltd.

18 Oct 2022

633.20

0.50%

PSP Projects Consolidated September 2022 Net Sales at Rs 359.98 crore, down 7.8% Y-o-Y

Moneycontrol

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PSP Projects Ltd. is trading below its 100 day SMA of 641.0

PSP Projects Standalone September 2022 Net Sales at Rs 356.60 crore, down 8.67% Y-o-Y

Moneycontrol | 18 Oct 2022

PSP Projects Ltd.

14 Oct 2022

633.20

0.50%

PSP Projects Q2 PAT seen up 8.2% YoY to Rs. 39.6 cr: Yes Securities

Moneycontrol

Net Sales are expected to increase by 51.9 percent Y-o-Y (up 39.6 percent Q-o-Q) to Rs. 482 crore, according to Yes Securities.

PSP Projects Ltd. has an average target of 705.75 from 4 brokers.

PSP Projects Ltd.

10 Oct 2022

633.20

0.50%

Axis Annual Analysis:PSP Projects

Hold: PSP Projects Ltd.

Recommendation Target

Axis Direct

We value the company at 11x FY24E EPS to arrive at the target price of Rs 715/share, implying an upside potential of 7% from the current levels and hence change our ratings from BUY to HOLD.