Moneycontrol Presented by Motilal Oswal
Days hours minutes
Presented by :

Co-Presenting Sponsor :

Capital Trade

Powered by :

Godrej Properties

Associate Sponsors :

Aegon Life
LIC Housing Finance

Co-Presenting Sponsor

Capital Trade

Powered by


Associate Sponsors

  • Indiabulls
  • Aegon Life
  • LIC Housing Finance
  • DHFL
Jan 31, 2017 04:37 PM IST | Source:

Buy Granules India; target of Rs 145: KR Choksey

KR Choksey is bullish on Granules India has recommended buy rating on the stock with a target price of Rs 145 in its research report dated January 31, 2017.

  • bselive
  • nselive
Todays L/H

KR Choksey's research report on Granules India

Granules Q3FY17 revenues were in-line with our estimates. Revenues grew by 11% YoY to INR 3.59bn (as compared to our estimate of INR 3.56bn). EBIDTA grew by 17% YoY to INR 763mn with EBITDA margins at 21.2% expanding by 110bps mainly on account of superior product mix, enhanced operational efficiency in base business coupled with high value of Finished dosages as a % of overall sales in the quarter. PAT grew by 34% YoY to INR 391mn. EPS for the quarter stood at INR 1.8 per share.

Granules has embarked on a journey of high growth and margin sustainability, we expect revenue and earnings CAGR of around 13% and 23% respectively over FY16-18E. We maintain our rating of ‘BUY’ and reduce our target price to INR 145 (earlier INR 160; we enhance our multiple from 17x to 18x on account of the multiple levers of growth).

For all recommendations, click here

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