Buy Hindustan Aeronautics Ltd for the Target Rs. 4,500 by Motilal Oswal Financial Services Ltd
* We expect revenue growth of 13% YoY, driven by a healthy execution of the opening order book.
* Key monitorables include the working capital cycle, and the status of Tejas Mk1a deliveries, MoU with GE and related orders for Su-30 avionics upgrade project.
* We expect EBITDA margin to expand ~10bp YoY even on a high base, aided by increased indigenization and easing of supply chain issues.
* The execution of a huge order backlog, any major provisions, incremental inflows, and margin will be the key focus areas.

For More Research Reports : Click Here
For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412
