ICICIdirect.com's report on Butterfly GandhimathiButterfly Gandhimathi (BGAL) has got a new order to supply its Butterfly brand table top wet grinders and mixer grinders from Pondicherry Cooperative Wholesale Stores Ltd. The total value of the order is Rs 90 crore, which is expected to be completed by Q4FY16. Prior to this, in January 2015 it had received an order of Rs 510 crore from Tamil Nadu Civil Supplies of which Rs 92 crore was executed in Q4FY15."Incorporating the current order, total gross revenues from government orders in FY16 are expected at Rs 508 crore while on branded products, we continue to maintain our estimates of 12.5% growth YoY. Total gross revenue from the branded business in FY16 is expected to be Rs 545.18 crore. The growth in the branded business will be mainly driven by new product launches and geographical expansion. Buy the stock with a target price of Rs 240", says ICICIdirect.com research report.For all recommendations, click here Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
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