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Buy Radico Khaitan; target of Rs 1450: ICICI Direct

ICICI Direct is bullish on Radico Khaitan recommended buy rating on the stock with a target price of Rs 1450 in its research report dated December 24, 2021.

December 27, 2021 / 05:54 PM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

 
 
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ICICI Direct's research report on Radico Khaitan


Radico Khaitan (earlier Rampur Distillery Company) is among the largest manufacturers of Indian made foreign liquor (IMFL) in India. The company is also a supplier of Indian made Indian liquor (IMIL) and bulk alcohol in India. IMFL segment comprises ~80% of consolidated revenues. The rest is contributed by IMIL and bulk alcohol • P&A volumes contribute 30% to overall IMFL volumes (rest is popular).


Outlook


We remain positive on the stock and maintain our BUY recommendation. We value the stock at Rs 1450 i.e. 38x P/E on FY24E EPS.


For all recommendations report, click here

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first published: Dec 27, 2021 05:54 pm
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