C&C Constructions
Fair Value: Rs 234,
Current Price: Rs 180
C&C's healthy order book position of Rs 2,610 crore provides revenue visibility for the next two years. The grade is constrained by C&C's stretched working capital given its higher inventory days which strains its financials as the company needs to raise debt to fund its working capital requirements. Crisil Equities expects C&C's revenues to grow at a two-year CAGR of 28 per cent to Rs 1,900 crore in 2011-12 backed by a healthy order book. EPS is expected to increase from Rs 26.7 in 2009-10 to Rs 41.9 in 2011-12.
—Crisil Equitie
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