Kotak Securities' research report on Eveready Industries India
EIIL balance sheet likely to get de-leveraged post monetization of Chennai land for Rs 1 Bn. Management sounded confident about 1/ monetizing other non-strategic assets in the near term as and 2/ strengthening balance sheet further, achieving debt free status in FY20.
Outlook
We believe that stock is currently trading attractive at FY20 PER of 12.1x and EV/EBITDA of 9.2x. We maintain FY19/20 forecasts and DCF assumptions, we recommend ‘BUY’ with un-changed target price of Rs 310.
For all recommendations report, click here
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