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Last Updated : Jul 26, 2019 01:08 PM IST | Source: Moneycontrol.com

Buy V-Guard Industries; target of Rs 280: Sharekhan

Sharekhan is bullish on V-Guard Industries has recommended buy rating on the stock with a target price of Rs 280 in its research report dated July 25, 2019.

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Sharekhan's research report on V-Guard Industries


V-Guard posted strong net earnings growth led by higher revenue contribution of non-South region and benefitting from stable commodity and forex costs which led to improvement in OPM. V-Guard’s focus areas will be increasing non-South presence, expansion into adjacencies and improving efficiencies. Strong cash position may lead to inorganic expansion at favorable valuation considering weak environment. We expect revenue/operating profit/net profit to grow at 15.0%/25.7%/26.7% respectively during FY2019-FY2021E.


Outlook


We upgrade V-guard industries to Buy with revised PT of Rs. 280 increasing valuation multiple owing to presence of multiple growth levers.

For all recommendations report, click here

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First Published on Jul 26, 2019 01:08 pm
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