Dilip Buildcon Ltd.

NSE: DBL | BSE: 540047 | ISIN: INE917M01012 |Industry: Roads & Highways
|Slowing Down Stock

Dilip Buildcon Ltd.    
09 Feb 2019
HDFC Securities
We maintain BUY with reduced TP of Rs 833/sh (13.5x Dec-20E EPS and BOT at 1x equity invested). DBL posted strong 3QFY19 Rev/EBITDA/APAT of Rs 24.9/4.4/2.1bn (+6/7/14% beat) despite only ~Rs. 100bn of the order book effectively being under execution. EBIDTA margins came in line at 17.7%. With 80-IA projects still contributing significantly, DBL reported a 6% effective tax rate.
Dilip Buildcon Ltd. has lost -42.14% in the last 3 Months
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