November 18, 2016 / 18:09 IST
Arihant Capital's research report on HSIL Q2FY17 Net Revenue at Rs 474 crores was line with our expectations. Company has achieved Healthy revenue growth across segments. Sanitaryware and faucet both grew in double digits and PPD growth was steady and has started the process of activating the 4th furnace which will be commercialized in Q4FY17. Building Products segment revenue grew by 17.5% and packaging products segment revenue grew by 12.4% on Y-o-Y basis.
We remain “optimistic” on Building products segment and consumer appliances segment due to strengthening retail focus which is beginning to show signs of improvement. Penetration of faucets, sanitaryware and consumer appliances are revenue drivers. We value the stock at 20x FY18EPS, and assign a price target of Rs 431 with a “BUY” rating on the stock.
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