Anand Rathi's research report on Sanghi Industries
Weak demand in its operating regions (Gujarat/Maharashtra) due to Covid-19 and the monsoon hindered Sanghi’ Q2 performance. Cost optimisation, however, brought some respite. With the Kutch expansion to commence in Q3, its ramping up amid an uncertain demand environment would be key to watch.
Outlook
We retain our Buy, with a higher TP of Rs42 (earlier Rs31), 9x FY22e EV/EBITDA.
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