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Buy Granules India; target of Rs 300: Motilal Oswal

Motilal Oswal is bullish on Granules India recommended buy rating on the stock with a target price of Rs 300 in its research report dated May 19, 2022.

May 21, 2022 / 07:54 PM IST
 
 
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Motilal Oswal's research report on Granules India


Granules India (GRAN) delivered better-than-expected 4QFY22 performance at operational level. Better realization from paracetamol supported by new launches resulted in improved profitability on a QoQ basis. We cut our EPS estimates by 3%/5% for FY23E/FY24E to factor in: a) increased price erosion in the base portfolio, b) opex towards MUPS/oncology block and c) higher freight cost.


Outlook


We value GRAN at 12x 12M forward earnings to arrive at our TP of INR300.


For all recommendations report, click here

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first published: May 21, 2022 07:52 pm
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