Rites Ltd. share price target

RITES reported a largely flat operating performance in Q12026 with consolidated revenue and profit metrics showing marginal YoY increases with consolidated operating revenue of Rs48bn and consolidated PAT of Rs0.9bn for the quarter. Standalone operating revenue was Rs45bn and PAT Rs0.6bn. The company continues to emphasize execution of a large, young order book Rs87bn as Q12026. With a strong order book, cash-rich balance sheet, steady dividends, and a delayed but visible revenue ramp, RITES remains a HOLD rating with a TP of 281. Stable fundamentals limit downside, but near-term upside is capped by...

We maintain our BUY recommendation for the stock.

We maintain our recommendation of BUY on the stock.

We roll over our estimates to FY27 and upgrade our recommendation from HOLD to BUY on the stock.

We maintain our HOLD recommendation on the stock.

We maintain our HOLD recommendation on the stock. We await for better entry point.

We maintain our HOLD recommendation on the stock as recent sharp appreciation in the stock price leaves us with no upside. We await for better entry point.

We maintain our HOLD recommendation on the stock and revise our estimates downward for FY24 and FY25 respectively.

we expect the company to post healthy Revenues/EBITDA/APAT growth of 12%/11%/11%CAGR respectively over FY23-25E. However,the recent appreciation in stock price leaves us with little upside and we maintain our HOLD rating on the stock with a TP of Rs 500/share, implying an upside of 2% from the CMP.

We change our recommendation on the stock from a BUY to HOLD as recent appreciation in the stock price leaves no upside potential. We await a better entry point to re-enter the stock.

We maintain our BUY recommendation on the stock with a TP of Rs 450/Share, (Rs 410/Share earlier) implying an upside of 13% from the CMP. We value the company at 16x FY25E EPS (15x earlier).

Company Outlook & Guidance: The management refrained from giving any revenue guidance but expects to maintain their core EBITDA margin and profitability at a healthy growth rate moving ahead. The company expect good export orders in FY24.

Recommendation: We maintain our BUY recommendation on the stock.

We recommend a BUY rating on the stock with a TP of Rs. 405/ share implying an upside of 10% from the CMP.

We revise our earnings estimates for FY23E and 24E and value the company at 15x FY24 EPS (12.5x earlier) to arrive at a TP of Rs 405/share, implying an upside of 10% from the CMP and hence change our rating from HOLD to BUY.