Moneycontrol
Feb 17, 2017 10:49 AM IST | Source: Moneycontrol.com

Buy Parag Milk Foods; target of Rs 264: KR Choksey

KR Choksey is bullish on Parag Milk Foods has recommended buy rating on the stock with a target price of Rs 264 in its research report dated February 15, 2017.

Buy Parag Milk Foods; target of Rs 264: KR Choksey


KR Choksey's research report on Parag Milk Foods


Parag Milk foods Ltd reported Q3FY17 revenue of INR 4460.7Mn with growth of 15.1% yoy and de-growth of 5.7% qoq. EBITDA was at INR loss of INR 144.5 with margins of around -3.2%. PAT before exceptional item for Q3FY17 was a loss of INR 214.8 Mn with margins of -4.8%.


Outlook


We believe it would be stable in an around six months. We are cutting our target price from INR 329 to INR 264 with assigning multiple of 28x to FY19E EPS of INR 9.4 we recommend “BUY” rating on the stock with the target price of INR 264, with potential upside of 24.0%.

For all recommendations, click here

Disclaimer:
The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Sections
Follow us on
Available On