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Last Updated : Oct 21, 2020 02:42 PM IST | Source: Moneycontrol.com

Buy Granules India Limited; target of Rs 475: Sharekhan

Sharekhan is bullish on Granules India Limited has recommended buy rating on the stock with a target price of Rs 475 in its research report dated October 20, 2020.

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Sharekhan's research repor on Granules India Limited

Results were ahead of estimates. Tapping new geographies, strong product pipeline, growth in existing core molecules & capacity expansion to drive sales growth. Favorable mix, benefits of operating leverage accruing would lead to OPM expansion. Strong earnings visibility, a sturdy balance sheet and healthy return ratios augur well and could result in multiple re-rating for the stock.

We retain a Buy rating on Granules with a revised PT of Rs 475. Q2FY2021 was yet another quarter of stellar performance with sales and PAT growing sturdily by 22.7% and 70.8% YoY respectively.

For all recommendations report, click here

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First Published on Oct 21, 2020 02:42 pm