Buy Tilaknagar Industries: Harmendra Gandhi
Buy Tilaknagar Industries, says Harmendra Gandhi, Research Analyst at Nomura.
February 09, 2011 / 12:01 IST
Buy Tilaknagar Industries, says Harmendra Gandhi, Research Analyst at Nomura.
Gandhi told CNBC-TV18, "If you look at IMFL growth, that sector is growing very steady 15% CAGR and Tilaknagar has been growing at more than 50% CAGR in last three years. So industry leading growth and if you look at the margins, again margins return ratio is much higher than the two large domestic listed competitors."He further added, "In terms of valuation if you look at, they are trading at a steep discount to both of them and considering they are focused on brandy, which is not the focus of those large competitors, so we think that they can grow at 30-40% for next two-three years and considering the valuation 10-11 times FY10 earnings, I think it
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