Time period given by analyst is one year when PTC India Ltd. price can reach defined target.
PTC India Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 2924.56 Crore) operating in Power sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 4959.99 Crore, up 26.34 % from last quarter Total Income of Rs 3925.99 Crore and up 6.87 % from last year same quarter Total Income of Rs 4641.28 Crore. Company reported net profit after tax of Rs 136.12 Crore in latest quarter.
Investment Rationale
The brokerage maintains BUY but increase SoTP-based target price to Rs150/sh (earlier: Rs135/sh), as it upgrades volume assumptions and also assign higher value to its investments. Divestment of non-core holdings will unlock value and re-rate the stock price meaningfully, which is trading at FY23E P/BV of 0.7x and dividend yield of 8.1%.
Promoter/FII Holdings
Promoters held 16.2 per cent stake in the company as of June 30, 2021, while FIIs held 34.3 per cent, DIIs 10.1 per cent and public and others 39.4 per cent.
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