279.2000 -5.05 (-1.78%)
NSE May 28, 2025 15:31 PM
Volume: 70,280
 

279.20
-1.78%
Karvy
Simplex Q1FY17 operational performance was better than expectations. Though, revenues of Rs 14.07bn (down by 7% YoY) was lower than estimate of Rs 15.2bn, EBITDA of Rs 1.64bn (-3% YoY) was better than estimate of Rs 1.56bn as the margin came higher at 11.7% (+45 bps YoY) vs. estimate of 10.3%. PAT declined 32% YoY to Rs 172mn primarily led by decline in EBITDA and other income. Going ahead, we expect muted revenue growth during FY17-18E due to working capital stress. However, decline in interest cost (led by reduction in debt) to drive 55% PAT CAGR during FY16-18E. Valuation looks fair post recent stock run up. Maintain Hold.
Promoters have decreased holdings from 49.82% to 42.35% in Mar 2025 qtr
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