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Buy Crompton Greaves Consumer; target of Rs 549: Anand Rathi

Anand Rathi is bullish on Crompton Greaves Consumer has recommended buy rating on the stock with a target price of Rs 549 in its research report dated July 26, 2021.

July 27, 2021 / 04:52 PM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

 
 
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Anand Rathi's research report on Crompton Greaves Consumer


Crompton’s market-share gains continued in Q1 (fans up 1%, dominant position in geyser/domestic pumps/B2C LED). B2B/B2G lighting remained in the slow lane while the growth/margin outlook of B2C LED has improved structurally.


Outlook


We are positive on the company’s prospects owing to its brand image, product innovation and vast scope for portfolio/network expansion (incl. inorganically). On 16%/20% revenue/PAT CAGRs over FY21-23, ~30% RoE and strong FCFs, we retain a Buy, with a target of Rs.549 (45x FY23e P/E, ~10% discount to Havells).


For all recommendations report, click here


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first published: Jul 27, 2021 04:52 pm

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