Buy Pidilite Industries: Target Of Rs 1875: Sharekhan
Sharekhan is bullish on Pidilite Industries recommended buy rating on the stock with a target price of Rs 1875 in its research report dated November 06, 2020.
Nov 11, 2020 / 11:31 AM IST
Sharekhan's research repor on Pidilite Industries
Pidilite Industries’ (Pidilite’s) Q2FY2021 performance was boosted by a strong recovery in the domestic consumer bazaar business (up 7.3%) and OPM expansion of 603 bps to 22.6%. Consolidated revenues and PBT grew by 4% and 27% beating ours as well as the street’s expectations. With intensity of the COVID-19 virus receding, the domestic consumer business is expected to post better growth in the coming quarters, while the B2B business is expected to reach pre-COVID levels in H2. International markets such as America, Middle East, Africa and Asia posted a recovery.
Acquisition of Araldite brand strengthens commanding position in domestic adhesives space. We maintain a Buy on the stock with a revised PT of Rs. 1,875.
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