Navkar Corporation (Navkar) reported a good set of numbers for 3QFY2018.
The consolidated top-line grew by ~16% yoy. On the operating front, the
company reported a margin contraction on account of sharp increase in
operating expenses. However, the net profit grew by ~21% yoy due to higher
sales and lower interest cost.
Outlook and Valuation: Going forward, we expect Navkar’s utilizations to
improve; we expect the company to be able to garner a good chunk of business
over the next 2-3 due to its rail advantage at both JNPT and Vapi. We maintain
our Buy recommendation on the stock with a target price of `265.
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