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Last Updated : Jul 02, 2019 12:35 PM IST | Source: Moneycontrol.com

Hold Jyothy Laboratories; target of Rs 180: Sharekhan

Sharekhan recommended Hold rating on Jyothy Laboratories with a target price of Rs 180 in its research report dated June 24, 2019.

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Sharekhan's research report on Jyothy Laboratories


Management expects 12-14% revenue growth with OPM at 16% due to expected recovery in H2FY2020. We have factored in 10% revenue growth and ~15% OPM for FY2020 on account of slow recovery in the HI category and higher media spends. Any substantial recovery in business fundamentals (likely to be in H2FY2020) will be a key re-rating trigger for the stock.


Outlook


We maintain our Hold recommendation on Jyothy Laboratories with a revised PT of Rs. 180. HI category will recover but at a gradual space; fabric whitener will grow in mid-single digit; other categories to grow in double digits.


For all recommendations report, click here


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First Published on Jul 2, 2019 12:35 pm
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