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Buy Greenlam Industries: target of Rs 1605: Sharekhan

Sharekhan is bullish on Greenlam Industries has recommended buy rating on the stock with a target price of Rs 1605 in its research report dated July 27, 2021.

July 29, 2021 / 02:15 PM IST
 
 
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Sharekhan's research report on Greenlam Industries


The company reported better than expected revenues but was affected by increased raw material costs due to its inability to pass on cost to international clients that led to lower than expected net earnings. Its 1.5 million laminate capacity is expected to be onstream by Q3FY2023 which along with expansion in product adjacencies would provide next leg of growth. Dominant industry position, strong domestic growth outlook, demand shift from unorganised to organised players and rising export opportunities to lead to healthy earnings growth over FY2021-FY2024E.



Outlook


We retain Buy on Greenlam Industries Limited (Greenlam) with a revised PT of Rs. 1,605, considering its healthy earnings growth outlook over FY2021-FY2024E.

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first published: Jul 29, 2021 02:15 pm
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