ARVIND SMARTSPACES

Flash News Investment - - RECOMMENDATIONS -

{ Ticker: 539301 { FV: ₹10 { 52-Week H/L: ₹222.40/130.50

We had rec­om­mended Arvind SmartSpaces in Vol­ume No 34, Is­sue No 29 (dated May 7, 2018), when the scrip was trad­ing at Rs 202. Our rec­om­men­da­tion was backed by fac­tors like strong fi­nan­cial per­for­mance and foray into B+ tier ci­ties like Pune and Jaipur. Dur­ing the quar­ter ended June 2018, the com­pany's rev­enue was down by 8.2 per cent YoY from Rs 29.9 crore to Rs 27.5 crore. Its EBITDA for the quar­ter de­clined by 48.7 per cent YoY and EBITDA mar­gin de­clined from 37.9 per cent to 21.2 per cent on YoY ba­sis. Also, PAT was down by 76.7 per cent YoY to Rs 1.14 crore from Rs 4.9 crore. RERA and GST have af­fected the busi­ness op­er­a­tions which the com­pany ex­pects will grad­u­ally im­prove. Thus, we urge in­vestors to grad­u­ally RE­DUCE EX­PO­SURE to the stock.

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