Hem Securities has given Buy recommendation for Intellect Design Arena with a target price of Rs. 813 in its research report issued on Dec 27, 2021

Hem Securities report on Intellect Design Arena

Intellect Design Arena Ltd Q2FY22 consolidated revenues came in at ₹452.14 Cr, up 21.6% YoY and up 10.7% QoQ. EBITDA for Q2FY22 stood at ₹118.2 Cr, up 36.8% YoY and up 17.9% QoQ. EBITDA margins for Q2FY22 came at 26.1% as compared to 24.5% in Q1FY22 and 23.2% in Q2FY21. PAT for Q2FY22 stood at ₹82.5 Cr, up 38.5% YoY and up 4.9% QoQ.

Outlook

We initiate a “BUY” rating on the stock and value the stock at 24.5x FY23E earnings to arrive at the target of ₹813.

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