Sharekhan recommended Hold rating on Jyothy Laboratories with a target price of Rs 195 in its research report dated May 07, 2019.
Sharekhan's research report on Jyothy Laboratories
JLL posted muted operating performance with revenue growing by 6.3% y-o-y whereas operating profit declining by 6% y-o-y. Decline in Maxo and Henko and a flat growth in Ujala led to lower revenue growth during the quarter . Muted revenue growth over the past few quarters and weak demand environment does not provide a positive outlook for the company (HI category will take time to recover).
We have downgraded our recommendation to Hold on the stock of Jyothy Laboratories (JLL) with an unchanged TP of Rs.195.
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