Buy Megastar Foods; target of Rs 475: Profitmart

Profitmart is bullish on Megastar Foods has recommended buy rating on the stock with a target price of Rs 475 in its research report dated December 08, 2023.

Broker Research

December 10, 2023 / 12:44 IST

Buy

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Profitmart research report on Megastar Foods

Megastar Foods Ltd was Incorporated in November, 2011 and started its operations in 2013 & having getting listed on the BSE SME platform on 24th May, 2018 wherein the company presently is a a prominent producer and supplier of wheat flour, organic wheat flour and allied products in India. On 16th February, 2022, Megastar Foods Ltd migrated from BSE SME segment to main board in NSE & BSE segment Megastar Foods Ltd Founder & Promoter is Mr Vikas Goel who has has been in this industry for more than 36 years. With his hands-on approach, Mr. Goel has directly overseen the operations of Megastar since its very inception Mr Vikas Goel comes with a strong business background of over 3 decades and comes from a business family which has been in this business segments for over 35 years. Mr Mudit Goyal is also responsible for production and technology areas for Megastar Foods.

Outlook

Looking at Megastar’s steady financial track record, strong product portfolio and unique offerings and strong promoters we expect the stock to get re rated in future. Hence we recommend that MFL stock should buy at current market price, for a target of around RS 475 over next 18 monts.

For all recommendations report, click here