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Hold Greenply Industries: target of Rs 250: ICICI Direct

ICICI Direct recommended hold rating on Greenply Industries with a target price of Rs 250 in its research report dated November 11, 2021.

November 11, 2021 / 10:53 AM IST
 
 
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ICICI Direct's research report on Greenply Industries


Greenply Industries (GIL) is one of the leading players in the plywood business in India. It has a distribution network of 2,300+dealers/authorised stockists 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 555 crore) with revenue potential of ~Rs 600-650 crore per annum at its peak utilisation


Outlook


We maintain our HOLD rating on the company We value GIL at Rs 250/share (at 24x FY23E P/E)


For all recommendations report, click here

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first published: Nov 11, 2021 10:53 am

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