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Buy Greenlam Industries; target of Rs 385: Sharekhan

Sharekhan is bullish on Greenlam Industries has recommended buy rating on the stock with a target price of Rs 385 in its research report dated February 03, 2023.

February 08, 2023 / 03:48 PM IST
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Sharekhan's research report on Greenlam Industries

For Q3FY2023, the company reported broadly in-line performance with a marginal miss on OPM. Consolidated revenues/operating profit/net profit were up 12%/2.7%/5.1% y-o-y respectively. Company targets revenue growth of 20% y-o-y and 20-25% y-o-y for FY2023 and FY2024 respectively. Net debt inches up with new project led borrowings. The company’s Rs. 950 crore capex plans for laminates, particleboard, and plywood businesses remain on track.


We retain a Buy on Greenlam Industries Limited (Greenlam) with a revised PT of Rs. 385, factoring lowered estimates and considering its strong growth outlook over FY2023-FY2025E.

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Greenlam Industries - 06 -02 - 2023 - khan

Broker Research
first published: Feb 8, 2023 03:48 pm