sintex industries (Emkay) Track WC cycle, free cash & mono margins; Accumulate

Beats estimates on account of better margins across businesses; Mgmt guided for similar growth in FY12E, marginally upgrade earnings; Free cash flow to eq. marginally positive in FY11P, FY12E number depends on Capex. At Rs3bn, its positive at Rs1bn
Date Rating Target Price Recommendation Price Broker house
2 May 2011 accumulate (from hold) 215 175 Emkay Report

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