Simplex Infrastructures Ltd. share price target and research reports

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

Latest analyst research reports with target prices and PDF download for SIMPLEXINF, BSE:523838 Simplex Infrastructures Ltd.

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Simplex Infrastructures Ltd.

19 Aug 2019

278.20

0.13%

Simplex Infrastructure

Not Rated: Simplex Infrastructures Ltd.

ICICI Securities Limited

Execution continues to remain muted due to elevated debtors SIL has secured | 1,122 crore worth of orders in Q1FY20 and has an order book worth | 15,347 crore as of Q1FY20. The present OB implies 2.7x order book-to-bill ratio on FY19 revenues. Despite this, execution remains slow on account of SIL facing issues related to the old debtor's recovery. As per the management, there was a shortfall in revenues by ~| 2,000 crore in FY19. Pending debtors and client-related issues contributed ~60% to this shortfall. The company has been focusing on improving internal operations and...

Promoters pledged 11.01% of shares in last quarter. Total pledge stands at 33.09% of promoter holdings

Simplex Infrastructures Ltd.

19 Feb 2019

278.20

0.13%

Simplex Infrastructure

Hold: Simplex Infrastructures Ltd.

Target

ICICI Securities Limited

Orderbook at | 16,805 crore, 2.7x TTM revenues in Q3FY19 With total order inflows worth | 2,431 crore in 9MFY19, SIL's orderbook stands at | 16,805 crore as of Q3FY19. Of this, 80% of the orderbook comprises of government orders, while remaining 20% pertains to order from private entities. The current orderbook does not include | 1,100 crore worth order wherein the company has emerged as L-1 bidder. The management is hopeful of receipt of | 2,500 crore worth orders in Q4FY19E and hence has guided for a total order inflow of | 5,000 crore in...

Simplex Infrastructures Ltd. is trading below all available SMAs

Simplex Infrastructures Ltd.

18 Feb 2019

278.20

0.13%

Simplex Infrastructure's (SINF) sales grew marginally by 3.2% yoy to about Rs14bn in Q3FY...

Buy: Simplex Infrastructures Ltd.

Target

Emkay

Simplex Infrastructure's (SINF) sales grew marginally by 3.2% yoy to about Rs14bn in Q3FY19, lower than our estimates mainly due to social unrest in the North East and a delay in getting approvals for few projects. PAT totaled Rs363mn, on account of better operating performance, lower depreciation costs (down 10% yoy) and lower interest costs (down 1.1%yoy).It was marginally lower than our estimate . SINF's order book stood at about Rs168bn (2.8x TTM revenues). Management is eyeing...

Promoters pledged 11.01% of shares in last quarter. Total pledge stands at 33.09% of promoter holdings

Simplex Infrastructures Ltd.

21 Nov 2018

278.20

0.13%

Simplex Infra

Buy: Simplex Infrastructures Ltd.

Kotak Securities

Simplex Infrastructure results for Q2FY19 were lower than our expectations on revenues and profit front. Margins stood in line with estimates. Order inflow was weak during the quarter but is likely to improve going forward. Execution is also likely to ramp up in H2FY19. Revenue growth of 27% YoY was lower than our estimates but is likely to improve in coming quarters. Margins witnessed a decline on YoY basis but improved...

Promoters pledged 11.01% of shares in last quarter. Total pledge stands at 33.09% of promoter holdings

Simplex Infrastructures Ltd.

21 Nov 2018

278.20

0.13%

Simplex Infrastructure

Hold: Simplex Infrastructures Ltd.

Target

ICICI Securities Limited

SIL received order inflows worth | 430 crore, taking its order book to | 16821 crore in Q2FY19. In the current orderbook, urban infra comprises 25%, buildings 24%, power 22%, roads 16% with remaining in marine, piling & bridges, industrial and railways. Despite order inflows being subdued in H1FY19 (| 1170 crore), the management is confident of achieving order inflows worth | 7000-8000 crore in FY19E, with the...

Promoters pledged 11.01% of shares in last quarter. Total pledge stands at 33.09% of promoter holdings

Simplex Infrastructures Ltd.

16 Nov 2018

278.20

0.13%

SINF's sales grew 18.7% yoy to Rs14.8bn in 2QFY19, ahead of our estimate on a pick-up in...

Buy: Simplex Infrastructures Ltd.

Recommendation Target

Emkay

SINF's sales grew 18.7% yoy to Rs14.8bn in 2QFY19, ahead of our estimate on a pick-up in execution in its healthy order book of Rs168bn. SINF's PAT came in at Rs244mn, led by strong execution and lower depreciation expenses....

Simplex Infrastructures Ltd. is trading below all available SMAs

Simplex Infrastructures Ltd.

17 Aug 2018

278.20

0.13%

Simplex Infrastructure

Hold: Simplex Infrastructures Ltd.

Target

ICICI Securities Limited

Simplex Infrastructure's (SIL) topline grew 4.8% YoY to | 1584.2 crore (our estimate: | 1668.6 crore) possibly on account of muted execution following stretched working capital in Q1FY19 EBITDA margins slipped slightly by 26 bps YoY to 11.2% but was broadly in line with our expectation of 11.0% PAT de-grew 1.6% YoY to | 28.3 crore (our estimate: | 32.9 crore) due to higher tax rate (30.1% in Q1FY19 vs. 21.1% in Q1FY18) Auditor raises attention on unbilled revenues worth | 447.5 crore...

Promoters pledged 11.01% of shares in last quarter. Total pledge stands at 33.09% of promoter holdings

Simplex Infrastructures Ltd.

06 Jun 2018

278.20

0.13%

Simplex Infrastructure

Hold: Simplex Infrastructures Ltd.

Recommendation Target

ICICI Securities Limited

SIL's auditors have raised attention on unbilled revenues relating to worth | 860.4 crore pertaining to earlier years. In respect of this, SIL is in regular discussion with concerned customers for completion of necessary certification and recovery. The availability of appropriate audit evidence on these balances has been limited due to geographical spread of operations of SIL and project-specific data being maintained at respective project site. Hence, auditor could not verify these unbilled revenues. However, the management believes this would be resolved over the next...

Simplex Infrastructures Ltd. is trading below all available SMAs

Simplex Infrastructures Ltd.

05 Jun 2018

278.20

0.13%

Simplex Infrastructure's (SINF) sales increased marginally by 6.3% yoy to Rs16.4bn, below...

Hold: Simplex Infrastructures Ltd.

Target

Emkay

Simplex Infrastructure's (SINF) sales increased marginally by 6.3% yoy to Rs16.4bn, below our estimate owing to slower execution in some key projects. SINF's PAT came in at Rs293.6mn, down 56% yoy due to lower execution, higher interest cost (up 11% yoy) and enhanced tax outflow (26.6% tax rate in Q4FY18 v/s 35.8% in Q4FY17). SINF has secured orders worth Rs76.6bn in FY18, thus taking the total order book to...

Simplex Infrastructures Ltd. is trading below all available SMAs

Simplex Infrastructures Ltd.

20 Feb 2018

278.20

0.13%

Simplex Infrastructure

Buy: Simplex Infrastructures Ltd.

Target

ICICI Securities Limited

The EBITDA margin expanded robustly 160 bps YoY to 13.1% and was above our estimate of 12.5% PAT grew robustly by 68.9% YoY to | 31.1 crore (our estimate: | 36.3 crore) led by strong EBITDA margin expansion and lower effective tax rate (22.5% in Q3FY18 vs. 34.9% in Q3FY17) Orderbook at | 17653 crore, 3.1x of TTM revenues SIL has received strong order inflows worth ~| 1734 crore in Q3FY18, taking its order book to ~| 17653 crore, 3.1x order book to bill ratio on a...

Simplex Infrastructures Ltd. is trading below all available SMAs

Is Simplex Infrastructures Ltd. worth buying?

149 Votes:

Buy 75.84%

Sell 14.77%

Hold 9.4%