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Buy Greenpanel Industries: target of Rs 510: Sharekhan

Sharekhan is bullish on Greenpanel Industries has recommended buy rating on the stock with a target price of Rs 510 in its research report dated December 07, 2021.

December 08, 2021 / 10:52 AM IST
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Sharekhan's research report on Greenpanel Industries

Pan-India residential launches and sales grew strongly y-o-y and q-o-q in Q3CY2021, while inventory fell sequentially. We expect residential segment to drive MDF/plywood demand going ahead. Brownfield expansions coming on-stream in Q4FY2022 along with full capacity utilization in existing capacity would drive up volumes by 20-25% y-o-y for FY2023. Company’s Rudrapur unit is facing delays in resuming operations due to delays in imports of component, which would lead to a Rs. 4-crore loss on fixed overheads.


We retain a Buy on Greenpanel Industries Limited with an unchanged PT of Rs. 510, considering its strong earnings growth outlook and favourable valuation.

For all recommendations report, click here


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Broker Research
first published: Dec 8, 2021 10:52 am

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