Buy D-Link India; target of Rs 140: ICICI Direct

It seems that nationwide lockdown has not much impacted the fertilizer sector. In May 2020, the Indian Fertiliser industry has witness sales growth of 25% to 5 million tonnes as compared to 4 million tonnes in the same month last year.  Coromandel International and Chambal Fertilisers have seen major sales growth in the sector. The research firm Prabhudas Lilladher is bullish on 5 stocks in the sector and among that they expect stock Insecticides India may see the upside of 82 percent, report dated June 09, 2020.

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26 Aug, 2025 12:21

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ICICI Direct's research report on D-Link India

D-Link reported 15.6% YoY decline in total revenues to Rs 154.8 crore as the company took a corrective action of doing away with technologically obsolete inventory in the ongoing shift from 3G to 4G in India. It is a one-time impact. Sales should recover in the coming quarters.

Outlook

The stock continues to be available at an attractive valuation of 8.8x FY19E EPS. We value the stock at 12.5x FY19E EPS of Rs 11.2 and arrive at a revised target price of Rs 140. We maintain BUY recommendation on the stock.

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