ICSA (India) Ltd: BUY

ICSA (India) Ltd

CMP Rs312, BUY

Target price Rs451, Upside 44.7%


ICSA, a proxy on the Indian power growth story, is expected to witness revenues and profits CAGR of 75.6% and 81.5% over FY07-09 respecti vely. This growth will be a fallout of the huge opportunity arising out of the APDRP scheme and infrastructure spend expected over the next couple of years. At the current price, the stock trades at 12.5x and 8.3x its FY08E and FY09E EPS of Rs25 and Rs37.6 respectively. We recommend BUY with a one-year price target of Rs451, an upside of 44.7%.



Click below for the Company Report on ICSA (India) L td



Warm Regards,


India Infoline Research Team


Anonymous said...

India infoline has fallen short of the EPS target by 7 Rs this year. NExt year they will fall short by Rs 25

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