BILT is expected to post its Q4FY09 and FY09 (June ending company) results on Monday, September 22, 2009. We expect consolidated net sales of Rs 7.5 bn, -5.3% YoY. EBITDA margins are expected to show an improvement of 150 bps YoY to 23.3% following which we expect EBITDA to increase by 1.1% YoY to Rs 1753 mn. Inspite of improved margins we expect the company to report a sharp fall in APAT (after minority interest) of 34.7% to Rs 455 mn. EPS for the quarter is expected at Rs 0.7 as against Rs 1.1 in Q4FY08. We have BUY recommendation on the stock with a price target of Rs 24.
For FY09 we expect company to report net revenues of Rs 28.6 bn, -1.9% YoY. We expect EBITDA to decline by 9.8% to Rs 6.6 bn resulting in an EBITDA margin of 23.1% as against 25.1% previous year. APAT (after minority interest) is expected to decline by 26.6% to Rs 1.8 bn resulting in an EPS of Rs 2.8 as against Rs 3.8 previous year which is a de-growth of 26.3%.
We have BUY recommendation on the stock with a price target of Rs 24.
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