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Last Updated : Aug 17, 2017 04:09 PM IST | Source: Moneycontrol.com

Buy Parag Milk Foods Ltd; target of Rs 274: KRChoksey

KRChoksey is bullish on Parag Milk Foods Ltd has recommended buy rating on the stock with a target price of Rs 274 in its research report dated August 11, 2017.

 
 
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KRChoksey's research report on Parag Milk Foods Ltd


Parag Milk Foods Ltd (PMFL) posted its Q1FY18 results whose Sales were in-line with estimate and margins remain subdued. Its Revenue in Q1FY18 stood at INR 4128.8 Mn which was a growth of 7.7% yoy and de-growth of 3.6% qoq. Revenue was affected majorly due to inventory build up during the quarter. EBIDTA reported was INR 293.8 Mn with EBIDTA margins of 7.1% due to increase in raw material price of milk. PAT remained around INR 105.3 Mn with PAT margins of 2.5% which was a decrease of 27 bps yoy and 512 bps qoq.

Outlook

At CMP of INR 236, %we recommend “BUY” rating on the stock with the target price of INR 274, with potential upside of 16.0%.

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For all recommendations report, click here

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



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First Published on Aug 17, 2017 04:09 pm
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