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Buy Granules India; target of Rs 430: ICICI Direct

ICICI Direct is bullish on Granules India has recommended buy rating on the stock with a target price of Rs 430 in its research report dated July 29, 2021.

August 04, 2021 / 05:30 PM IST
 
 
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ICICI Direct's research report on Granules India


Granules is a large-scale vertically integrated company that manufactures API, intermediates and finished dosages and has seven manufacturing facilities along with B2B & B2C marketing & distribution. Revenues: Formulations – 52%, API (API+PFI) – 48% Top five products (Paracetamol, Ibuprofen, Metformin, Methocarbamol, Guaifenesin) contributed 84% to FY21 revenues


Outlook


We change our rating from HOLD to BUY due to better clarity and visibility We value Granules at Rs 430 i.e. 15x P/E on FY23E EPS


For all recommendations report, click here


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first published: Aug 4, 2021 05:30 pm

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