Buy Anil; target of Rs 328: Firstcall Research

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26 Aug, 2025 12:21

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Firstcall Research report on Anil“Anil Products Ltd was established in the year 1939 by the late Chinubhai Manibhai Sheth in the name of The Anil Starch Products (ASPL) and subsequently its name has been changed to APL by virtue of a recently concluded restructuring exercise is located in the city of Ahmedabad is one of the oldest and largest corn (maize) wet millers in India. It is part of the Lalabhai Group, a group that plays an important role in the commercial, cultural and educational development of the city of Ahmedabad and Gujarat in general. The Lalabhai Group is an Indian multinational operating from various locations in India and abroad. It is one of the oldest and largest Corn Wet Milling (CWM) units in India, producing a varied range of starches from basic maize starch to modify and specialty starches and related downstream products like dextrose monohydrate, anhydrous dextrose, corn syrup, sorbitol, amongst many others. Anil is a pioneer in the introduction and manufacture of various starch based products for textile, food, pharmaceutical, chemical, paper and other industries in India It is a part of Anil Group of Companies which has diversified portfolio of businesses including Biotechnology, Feed Ingredients & Supplements, and Hospitality, Processed Food & Dairy products, Infrastructure, Garment Exports, Agro-commodities, Knowledge Systems and industrial Engineering.” “At the current market price of Rs.277.70, the stock P/E ratio is at 5.02 x FY15E and 4.53 x FY16E respectively. Earning per share (EPS) of the company for the earnings for FY15E and FY16E is seen at Rs.55.36 and Rs.61.35 respectively. Net Sales and PAT of the company are expected to grow at a CAGR of 14% and 10% over 2013 to 2016E respectively. On the basis of EV/EBITDA, the stock trades at 4.94 x for FY15E and 4.77 x for FY16E. Price to Book Value of the stock is expected to be at 0.87 x and 0.73 x respectively for FY15E and FY16E. We recommend ‘BUY’ in this particular scrip with a target price of Rs.328.00 for Medium to Long term investment,” says Firstcall Research report.  

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