Buy Inox Leisure; target of Rs 390: Sharekhan
Sharekhan’s research report on Inox Leisure
Given the higher screen openings and increasing footfalls monetisation efforts, we expect revenue and earnings CAGR to be at 18% and 16% respectively over FY19-21E. We expect y-o-y growth momentum to moderate in Q1FY2020E despite Q1 being a seasonally strong quarter, owing to lower number of quality content. ATP growth rate is expected to be at high single-digit in FY2020E, while the SPH growth is likely to accelerate due to the on introduction of new menu lists and anticipated higher conversion rate.
We retain our Buy rating on INOX Leisure Limited (ILL) with a revised PT of Rs 390.
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