Buy Kirloskar Pneumatic, target price Rs 360: Antique Stock Broking

Antique Stock Broking has buy call on Kirloskar Pneumatic with a target price of Rs 360. The current market price of Kirloskar Pneumatic Company Ltd. is Rs 268.

Kirloskar Pneumatic Company Ltd., incorporated in the year 1974, is a Small Cap company (having a market cap of Rs 1004.75 Crore) operating in Electric/Electronics sector.

Financials
For the quarter ended 31-12-2020, the company reported a Standalone Total Income of Rs 183.28 Crore, up 22.03 % from last quarter Total Income of Rs 150.19 Crore and down -18.43 % from last year same quarter Total Income of Rs 224.68 Crore. Company reported net profit after tax of Rs 13.27 Crore in latest quarter.


Investment Rationale
The stock currently trades at 22x/15x its FY22/23E EPS of INR12.2/17.8 respectively, it maintains Buy rating on the stock with target price of INR360 valuing the stock at 20x its FY23E EPS of INR17.8, implying potential upside of 32% from the currently levels.