External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

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Equity Bottom-Up

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<li>Order Inflow: The company expects an order inflow of Rs 2,500 Cr in FY23, out of which Rs 1,050 Cr is received till date.</li>
<li>It has bid for projects with Nestle, Maruti, and MRF. The management has received an inquiry for a DLF project worth Rs 1,500 Cr in Delhi.</li>
<li>Total order book as of date stands at Rs 4,613 Cr giving revenue visibility for next two years.</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


Order Inflow: The company expects an order inflow of Rs 2,500 Cr in FY23, out of which Rs 1,050 Cr is received till date.
It has bid for projects with Nestle, Maruti, and MRF. The management has received an inquiry for a DLF project worth Rs 1,500 Cr in Delhi.
Total order book as of date stands at Rs 4,613 Cr giving revenue visibility for next two years.

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PSP Projects Ltd - Key Takeaways from The PSP Projects Management Meet

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<li>With favourable attributes such as strong and diversified order book position, healthy bidding pipeline and order inflows, asset-light model, emerging opportunities in the construction space, efficient and timely execution supported by high ROE and ROCE above 20% with the majority of Capex over, we expect the company to generate healthy free cash moving ahead and deliver Revenue/EBITDA/APAT growth of 27%/37%/40% CAGR over FY21-FY24E.</li>
<li>Currently, the stock is trading at 11x and 8x FY23E and FY24E EPS.</li>
<li>We value the company at 10.5x FY24E EPS to arrive at the target price of Rs 665/share, implying an upside potential of 26% from the current levels.</li>
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<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>






With favourable attributes such as strong and diversified order book position, healthy bidding pipeline and order inflows, asset-light model, emerging opportunities in the construction space, efficient and timely execution supported by high ROE and ROCE above 20% with the majority of Capex over, we expect the company to generate healthy free cash moving ahead and deliver Revenue/EBITDA/APAT growth of 27%/37%/40% CAGR over FY21-FY24E.
Currently, the stock is trading at 11x and 8x FY23E and FY24E EPS.
We value the company at 10.5x FY24E EPS to arrive at the target price of Rs 665/share, implying an upside potential of 26% from the current levels.





Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PSP Projects: Key Takeaways from the PSP Management Meet on 8th June 2022

Cross Asset Strategy

<ul><li>Q4FY22 is expected to be a roller coaster quarter with COVID 3.0 impacting the first month of the quarter.</li><li>However, Feb’22 witnessed some recovery as fewer fatalities revived the confidence in improving health conditions and thereby diminished the risk parameters.</li><li>OUR TOP 10 “TRADING BUYs” Earnings Play: SBI, ICICI bank, Tata Steel, Nalco, Ashok Leyland, Eicher Motors, PSP Projects, ITC, Varun beverages, Tech Mahindra</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Q4FY22 is expected to be a roller coaster quarter with COVID 3.0 impacting the first month of the quarter.However, Feb’22 witnessed some recovery as fewer fatalities revived the confidence in improving health conditions and thereby diminished the risk parameters.OUR TOP 10 “TRADING BUYs” Earnings Play: SBI, ICICI bank, Tata Steel, Nalco, Ashok Leyland, Eicher Motors, PSP Projects, ITC, Varun beverages, Tech MahindraContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Q4FY22 Result Preview: Management Commentaries on the Outlook Stand Critical

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<li>PSP Projects (PSPPL) – incorporated in 2008 and led by Mr. P.S. Patel (CMD &amp; CEO), has been working in the Buildings &amp; Factories construction business</li>
<li>PSPPL has gradually expanded its construction reach starting from Gujarat to other geographies over the years.</li>
<li>We recommend a Buy the stock for a target price of Rs 620/ implying an upside of 11% from CMP</li>
</ul>
<p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>


PSP Projects (PSPPL) – incorporated in 2008 and led by Mr. P.S. Patel (CMD &amp; CEO), has been working in the Buildings &amp; Factories construction business
PSPPL has gradually expanded its construction reach starting from Gujarat to other geographies over the years.
We recommend a Buy the stock for a target price of Rs 620/ implying an upside of 11% from CMP

Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>We initiate coverage with a BUY rating and value the company 10.5x FY24E EPS to arrive at a target price of Rs 620/share.</li><li>We believe PSPPL is well-placed to take advantage of the government’s focus on infrastructure development</li><li>Strong and diversified order book provides robust revenue growth visibility.</li></ul><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

We initiate coverage with a BUY rating and value the company 10.5x FY24E EPS to arrive at a target price of Rs 620/share.We believe PSPPL is well-placed to take advantage of the government’s focus on infrastructure developmentStrong and diversified order book provides robust revenue growth visibility.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

PSP Projects: Embarking On the Next Phase of Growth

India

PSP Projects Limited operates as a construction company. The Company offers industrial, institutional, government, and residential projects construction, as well as allied services including planning, designing, and post-construction activities. PSP Projects serves the private and public sectors in India.

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PSP Projects (PSPPL IN)

PSP Projects Ltd - Key Takeaways from The PSP Projects Management Meet

It has bid for projects with Nestle, Maruti, and MRF. The management has received an inquiry for a DLF project worth Rs 1,500 Cr in Delhi.

Axis Direct

PSP Projects: Key Takeaways from the PSP Management Meet on 8th June 2022

Order Book: The current order book stands at Rs 4,400 Cr. The top 2 big projects are Uttar Pradesh EPC projects for Medical School and EWS Housing...

Axis Direct

Q4FY22 Result Preview: Management Commentaries on the Outlook Stand Critical

OUR TOP 10 “TRADING BUYs” Earnings Play: SBI, ICICI bank, Tata Steel, Nalco, Ashok Leyland, Eicher Motors, PSP Projects, ITC, Varun beverages, Tech...

Axis Direct

Pick of the Week: PSP Projects

PSP Projects (PSPPL) – incorporated in 2008 and led by Mr. P.S. Patel (CMD & CEO), has been working in the Buildings & Factories construction business

Axis Direct

PSP Projects: Embarking On the Next Phase of Growth

We initiate coverage with a BUY rating and value the company 10.5x FY24E EPS to arrive at a target price of Rs 620/share. TP implies an upside...

Axis Direct

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