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Buy Huhtamaki India; target of Rs 375: ICICI Direct

ICICI Direct is bullish on Huhtamaki India recommended buy rating on the stock with a target price of Rs 375 in its research report dated January 01, 2021.

January 14, 2021 / 08:50 PM IST
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ICICI Direct's research report on Huhtamaki India

Huhtamaki India (HIL) was incorporated in 1935 as Paper Product Ltd. In 1999, Huhtamaki Oyj acquired majority stake (currently ~67%) from the erstwhile promoter and changed the name accordingly. HIL is the leading player in the flexible packaging industry, providing packaging & labelling solutions to its clients through its ~18 plants and two R&D centres across India. The major client includes Nestlé, HUL, P&G, Mondelez, Coca Cola, etc. Further, we believe strong client base, launch of innovative products (backed by strong R&D of parent) & focus on expansions (organic+ inorganic) would help HIL expand its footprint in the domestic & international markets. As a result, HIL may witness revenue, PAT CAGR of 10%, 20%, respectively, in CY20E-22E supported by higher margin and saving in interest costs.


We value the stock at Rs 375 i.e. 16x P/E on CY21E-22E average EPS of Rs 23. We assign a BUY recommendation to the stock.

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Jan 6, 2021 12:39 pm

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