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Hold Greenply Industries: target of Rs 215: ICICI Direct

ICICI Direct recommended hold rating on Greenply Industries with a target price of Rs 215 in its research report dated August 05, 2021.

August 09, 2021 / 11:24 AM IST
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ICICI Direct's research report on Greenply Industries

Greenply Industries (GIL) enjoys a leadership position in the plywood business with 26% of the organised plywood market in India. It has a distribution network of 2,300+dealers/authorised stockists and a retail network exceeding 6,000 and 50+ physical and virtual branches pan-India. It is foraying into the MDF boards business with greenfield manufacturing set-up at Vadodara, Gujarat of 800 CBM/day (capex of ~Rs 548 crore) with revenue potential of ~Rs 600 crore per annum at its peak utilisation


We maintain our HOLD rating on the company We value GIL at Rs 215/share (at 22x FY23E P/E).

For all recommendations report, click here


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first published: Aug 9, 2021 11:24 am

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