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Last Updated : Aug 06, 2015 02:52 PM IST | Source: Moneycontrol.com

Hold IFB Industries, recommends Way2Wealth

Brokerage house Way2Wealth has adviced investors to "Hold" IFB Industries with a long-term investment horizon, in its August 6, 2015 research report.

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Way2Wealth's research report on IFB Industries

IFB Industries declared its Q1FY16 results recently. For the quarter the key positives were:
1) Sales growth at ~21.1% driven by home appliances as well as fine blanking segments;
2) Higher than expected top-load washing machines sales;
3) New launches under home appliances segment are planned in Q2FY16. The company commentary was titled towards driving growth on the back of better product mix, coupled with softening of raw material prices.

"We believe the company’s strategy of improving the product mix across categories coupled with new product launches in pipeline along with benefit from softening of raw material prices, will enable the company to ride the wave of opportunities successfully. IFB Industries continues to trade at high valuations, but its consistent innovations with product differentiation will drive demand and increase the company’s market share across segments. At the CMP of Rs 587/- the stock trades at 36.7x FY16E EPS of Rs 16/- respectively. We advice investors to HOLD the stock with a long-term investment horizon", says Way2Wealth research report.

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First Published on Aug 6, 2015 02:52 pm