Target 1: 65
Target 2: 75
1. It has a huge debt of 5000 crores as per latest annual results. The sales have declined in FY 17 from 3799 crores to 3179 crores.
2. The annual results show an one time provision 536 crores due to accounting policy changes and hence posted a loss before tax. This has been adjusted by deferred tax and hence net profit has marginally declined from past year.
I agree that it is a value buy at this price given the niche areas they serve like defence. I hold this stock from past three years and has rewarded me with good dividends.