Cox & Kings Ltd. share price target and research reports

Name: Latest research reports of Cox & Kings Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Cox & Kings Ltd.
Rating: 3
Author: ICICI Securities Limited

Latest analyst research reports with target prices and PDF download for COX&KINGS, BSE:533144 Cox & Kings Ltd.

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Cox & Kings Ltd.

28 Jun 2019

Cox & Kings

Results Update: Cox & Kings Ltd.

ICICI Securities Limited

High working capital requirement haunts balance sheet Total 80m of sales proceeds received from sale of the education business has been deployed towards bank guarantees and operational requirement for Meininger. Though Meininger has been and is further expected to drive the growth of the company going forward, high working capital requirements would continue to present significant challenges. Also, Meininger business exposes Cox & Kings to additional risk factors economic slowdown along with forex fluctuations. Additionally, trade receivables levels of FY18, which were guided to be the peak, have not...

Cox & Kings Ltd.

06 Jun 2019

Cox & Kings

Hold: Cox & Kings Ltd.

Target

ICICI Securities Limited

During FY19, the company's leisure international revenues increased 23% YoY mainly on the back of improving domestic spend and higher growth in foreign tourist arrival. On the other hand, domestic leisure segment got impacted, to some extent, with disruption in the airline industry. This, in turn, led to annual growth of 5.8% YoY only. Going forward, with improved tourism measures by the government and improved purchasing power, we expect domestic leisure business to continue to outperform in coming years. Hence, we expect leisure revenues to grow at a CAGR of 7-8% in FY19-21E....

Cox & Kings Ltd.

15 Feb 2019

Cox & Kings

Hold: Cox & Kings Ltd.

Recommendation Target

ICICI Securities Limited

Cox & Kings reported a disappointing set of Q3FY19 numbers. Revenues increased 25% YoY to | 499 crore (vs. I-direct estimates of | 457 crore, after adjusting for revenue share of education business) led by strong growth in Meininger business at 37% YoY to | 180 crore led by uptick in occupancy in newer hotels However, on margin front, EBITDA margin fell 755 bps YoY to 23.85% led by higher marketing expenses and additional expenses on account of a delay in launch of two Meininger properties. Thus,...

Cox & Kings Ltd.

19 Nov 2018, 12:00AM

Cox & Kings

Buy: Cox & Kings Ltd.

Target

ICICI Securities Limited

During FY18, the company's leisure India revenues increased 12.4% YoY mainly on the back of improving domestic spend and higher growth in foreign tourist arrival. Further, consumer sentiments continued to remain healthy as witnessed in air passenger traffic growth and improved hotel occupancy. In addition, with improved tourism measures by the government, we expect domestic leisure business to continue to...

Cox & Kings Ltd.

30 Oct 2018

Cox & Kings

Buy: Cox & Kings Ltd.

Recommendation Target

ICICI Securities Limited

Cox and Kings' board has entered into an agreement to sell its education business to Midlothian Capital Partners for all cash enterprise value of | 4387 crore (i.e. 467 million). The focus on asset light strategy and reduction in debt burden remain the key main criteria behind this move as education is a capex heavy business. This division reported revenue and EBITDA of | 613 crore and | 242 crore, respectively for FY18. Post this deal, the overall debt burden will come down from | 3907 crore to | 1507 crore. Again, with the transfer of | 250 crore debt to its de-merged entity...

Cox & Kings Ltd.

20 Aug 2018

Cox & Kings Ltd. - Result Update - 20 August 2018

Hold: Cox & Kings Ltd.

Way2Wealth

Cox & Kings recently declared its financial results for Q1FY19. The growth was driven by strong growth in International and Menninger businesses. International business constant currency grew by ~8-10% across the geographies. Segment wise results: Leisure India, Leisure International,...

Cox & Kings Ltd.

16 Aug 2018

Cox & Kings

Hold: Cox & Kings Ltd.

Target

ICICI Securities Limited

Cox and Kings' reported a mixed set of numbers. Revenues increased 15.8% YoY to | 817.3 crore (vs. I-direct estimate of | 813 crore) mainly led by 41.1% YoY growth in the Meininger segment & 22.6% YoY growth in Leisure - international However, EBITDA declined 20.2% YoY to | 297.9 crore (below Idirect estimate of | 380.8 crore) mainly led by forex loss of | 91 crore (vs. forex gain of | 35 crore in Q1FY18). Excluding the forex impact, the company reported EBITDA growth of 15% YoY to | 389 crore with strong rebound in operating margin of leisure international...

Cox & Kings Ltd.

04 Jun 2018

Cox & Kings Ltd. - Result Update - 04 June 2018

Hold: Cox & Kings Ltd.

Way2Wealth

Cox & Kings recently declared its financial results for Q4FY18 and FY18. The growth was driven by growth in Leisure India business and favourable INR movement boosting reported performance of Education segment. Segment wise results: Leisure India, Leisure International and Education reported revenue growth of 20.8%, 2.0%, 84.1% respectively. FY18 was a year of investment across businesses with higher promotional spends in India, up-gradation of some...

Cox & Kings Ltd.

30 May 2018

Cox & Kings

Hold: Cox & Kings Ltd.

Target

ICICI Securities Limited

Cox & Kings reported a mixed set of numbers. Revenues increased 15.5% YoY to | 532.3 crore (vs. I-direct estimate: | 528.9 crore) mainly led by a 20.8% YoY increase in Leisure India EBITDA increased 75.1% YoY to | 135.6 crore (above I-direct estimate of | 104.7 crore) mainly led by forex gain of | 39 crore (vs. forex loss of | 14 crore in Q4FY17) and improvement in leisure international margins. Excluding forex impact, reported EBITDA grew merely 5.0% mainly due to higher marketing cost and opening of...

Cox & Kings Ltd.

21 Feb 2018

Cox & Kings Ltd. - Result Update - 21 February 2018

Sell: Cox & Kings Ltd.

Way2Wealth

Cox & Kings recently declared its financial results for Q3FY18 and 9MFY18. The growth was driven by Meininger operations which witnessed healthy utilisations at the newly opened facilities. Segment wise results: Leisure India, Leisure International, Education and Meininger reported...

Is Cox & Kings Ltd. worth buying?

223 Votes:

Buy 64.57%

Sell 18.83%

Hold 16.59%