Motilal Oswal's research report on Future Consumer
Future Consumer’s (FCL) net sales grew 34.6% YoY to INR10.1b (est. INR9.8b) in 2QFY19. EBITDA was up 98.8% YoY to INR254m (est. INR234m). Adj. Loss for the quarter stood at INR30m v/s loss of INR88m in base quarter (est. loss of INR12m). Segmental: Centre of Plate (52% of sales) grew 31%. Fruits and Vegetable portfolio (22% of sales) grew 50%. Processed foods (8% of sales) and home and personal care (7% of sales) portfolio grew 31% and 59%, respectively.
Outlook
This results in a target price of INR63, implying ~43% upside from current levels. Maintain Buy. As soon as the company demonstrates profitability at the net level, we will move our valuation on P/E basis.
For all recommendations report, 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.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
Read More
