Hold Jyothy Laboratories; target of Rs 150: ICICI Direct

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ICICI Direct's research report on Jyothy Laboratories

Jyothy labs (JLL) is an FMCG company with a presence in fabric whiteners, detergents, dishwashing products, household insecticides (HI) & personal care products. The company has a leading brand Ujala in fabric whitener with 84.5% market share. It has a sizable dish washing & HI business with mid-teens market share. Large part of the revenue is generated from Kerala & Tamil Nadu. The company has 23 manufacturing facilities in India. Its pan-India distribution reach is close to 2.8 million outlets with direct reach of 1.1 million. Its major brands include Ujala & Henko in Fabric wash, Exo & Pril, in dishwashing, Margo in soaps & Maxo in HI categories.

Outlook

We continue to maintain our HOLD rating on the stock. We value the stock at Rs 150, valuing the business at 22x FY24 earnings.

More Info

At 17:30 Jyothy Labs was quoting at Rs 139.00, up Rs 1.70, or 1.24 percent.

It has touched an intraday high of Rs 139.65 and an intraday low of Rs 137.65.

It was trading with volumes of 20,272 shares, compared to its thirty day average of 39,251 shares, a decrease of -48.35 percent.

In the previous trading session, the share closed up 0.81 percent or Rs 1.10 at Rs 137.30.

The share touched its 52-week high Rs 187.20 and 52-week low Rs 133.00 on 06 July, 2021 and 25 January, 2022, respectively.

Currently, it is trading 25.75 percent below its 52-week high and 4.51 percent above its 52-week low.

Market capitalisation stands at Rs 5,104.20 crore.

 For all recommendations report, click here

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