Brokerage firm claims – this stock can grow by more than 33 percent, will you bet?

Multibagger Stock: Motilal Oswal Financial Services Limited has a buy call on “Navratna” Stock Engineers India Limited with a target price of Rs.95. According to Motilal Oswal, the stock is expected to rise +33 percent from the current market price of Rs 72.

Engineers India Limited (EIL) is a renowned Engineering Consultancy and EPC Firm based in India. EIL primarily deals in the Oil & Gas and Petrochemical sectors with engineering consultancy and EPC services. Infrastructure, water and waste management, solar and nuclear energy, and fertilizers are also diversified sectors of the company.

As per the highlights of Management Commentary, the brokerage has stated that “in the non-oil and gas sector within the consultancy segment, its decision to launch new projects will depend not only on margins, but also strategically on a case-by-case basis.” ENGR aims to win orders worth ~INR18b in 2HFY22.”

According to the brokerage “We maintain our earnings estimates and anticipate revenue / EBITDA / PAT CAGR – 6% / 14% / 11% over FY 2011-24E. We favor the consultancy segment to support revenues Expect a reversal in the mix to yield higher profitability over FY22-24E. We maintain our ‘Buy’ rating with a TP of INR95 per share, with its core business (11x FY24E Core EPS) at INR71 and its cash on books. for INR24.”

Disclaimer: (The information provided here is for informational purposes only. It is important to mention here that investing in the market is subject to market risks. Always consult an expert before investing money as an investor. Anyone from ABPLive.com Also investing money is never advised here.)

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