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.
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.
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