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Buy Capacit’e Infraprojects Ltd 9-12 Months CMP 112.20 Target 144
* Capacit’e Infraprojects reported weak set of numbers in Q4FY20 as execution was impacted owing to lockdown. The company lost 10 days of execution for the month of March which resulted in revenue decline of 38.3% YoY in Q4FY20 to Rs. 307 cr.
* Factoring the impact of COVID – 19, we have lowered our forecast for FY21E and FY22E. Nonetheless, we maintain a Buy on the stock with a revised target price of Rs. 144.
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