ICICI Direct's research report on Pidilite Industries
Pidilite recorded sales growth of 7% YoY in Q4FY17 supported by same amount of volume growth. The company’s consumer & bazaar (C&B) segment recorded volume growth of 8% due to recovery in demand post demonetisation.
Outlook
We have modelled revenue CAGR of 13% in FY17-19E led by revenue CAGR of 14% from C&B segment. We reiterate our BUY recommendation on the stock with revised target price of Rs 827/share.
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