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Buy Greenpanel Industries: target of Rs 700: Sharekhan

Sharekhan is bullish on Greenpanel Industries has recommended buy rating on the stock with a target price of Rs 700 in its research report dated May 07, 2022.

May 12, 2022 / 11:58 AM IST
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Sharekhan's research report on Greenpanel Industries

Consolidated OPM positively surprised in Q4FY2022 led by pricing actions undertaken during 9MFY2022 and a favourable product mix. Operating and net profit were up 42% y-o-y and 43% y-o-y, respectively, for Q4FY2022. The management expects MDF and Plywood volumes to rise by 15-18% y-o-y and 6-8% y-o-y for FY2023 with gross and operating margins sustaining at FY2022 levels. Greenpanel would announce the next round of capacity expansion by May-June 2022 which is likely to be a brownfield one, at its Southern plant.


We retain a Buy on Greenpanel Industries Limited (Greenpanel) with a revised PT of Rs. 700, factoring in upwardly revised estimates and considering a strong earnings growth outlook.


For all recommendations report, click here

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first published: May 12, 2022 11:58 am
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