Name: Latest research reports of Atul Auto Ltd. authored by HDFC Securities and published by - Trendlyne research reports.
Item: Atul Auto Ltd.
Rating: 5
Author: HDFC Securities

Atul Auto (1QFY18): Gearing up. Maintain BUY

Buy: Atul Auto Ltd.

HDFC Securities

We value AAL at Rs 528 (17x FY19E earnings). Maintain BUY. Atul Autos (AAL) 1Q EBITDA at Rs 121mn (+46% YoY, +17% QoQ) was in line with estimates. EBITDA margin expanded to 10.4% (+148bps YoY, 49bps QoQ). Net revenue at Rs 1.16bn (+25% YoY, 12% QoQ) was led by 18% increase in volumes and 6% net ASP. APAT came in at Rs 78mn (+62% YoY, +26% QoQ).