Moneycontrol PRO

Buy Jyothy Labs; target of Rs 240: Sharekhan

Sharekhan is bullish on Jyothy Labs has recommended buy rating on the stock with a target price of Rs 240 in its research report dated March 17, 2023.

March 20, 2023 / 01:59 PM IST
  • bselive
  • nselive
Todays L/H

Sharekhan's research report on Jyothy Labs

Recent fall in crude prices augurs well for JLL from a profitability perspective as we expect gross margins to improve in the quarters ahead. Management expects margins to reach 15% over the next two years. With the expected harsh summer season, mosquito infestation might increase which will help recovery in JLL’s household insecticide business. It will lead to an overall good recovery in volume growth. JLL remains one of the preferred picks in small to mid-cap FMCG space in view of its steady operating performance in a tough demand environment, good future growth prospects and discounted valuations to some of its close peers.


We maintain our Buy recommendation on Jyothy Labs (JLL) with a PT of Rs. 240. The stock has corrected by 18% from its recent high and is trading at an attractive valuation of 22x/18x its FY2023E/24E earnings.

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.

Jyothy Labs - 18 -03 - 2023 - khan

Broker Research
first published: Mar 20, 2023 01:59 pm