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Angel One targets ₹181 for LCC Projects after IPO listing
The brokerage said the company has a ₹7,953 crore order book across 103 projects, about 2.2x FY26 revenue.
LCC Projects Limited shares were still trading lower after its IPO listing last week, following a brief recovery from the Monday intraday low, according to a LiveMint Markets writeup.
Angel One expects LCC Projects to expand into metro-rail and mining contracts, with revenue projected to grow at a double digit compound annual growth rate over FY26 to FY28E. The brokerage forecast EBITDA margin of 14.0% for FY27E and FY28E, and maintained a Buy rating with a 12-month target price of ₹181 per share.
The report also highlighted balance sheet deleveraging, citing a net worth of ₹888 crores in FY26 and a ₹258 crore fresh issue that would take debt-to-equity below 0.97x. Angel One pointed to a ₹7,953 crore order book covering 103 projects, spanning about 2.2x FY26 revenue.
The stock was previously down despite a 4.46% return over the week since listing, the article noted, as the company continued to trade in red.