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Hold Jyothy Laboratories; target of Rs 215: ICICI Direct

ICICI Direct recommended hold rating on Jyothy Laboratories with a target price of Rs 215 in its research report dated January 27, 2023.

January 29, 2023 / 19:15 IST
     
     
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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 leading brand Ujala in fabric whitener with 83.6% market share. It has a sizable dish washing & HI business with mid-teens market share. Large part of the revenue is generated from Kerala and 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 1.0 million. Its major brands include Ujala & Henko in fabric wash, Exo & Pril in dishwashing, Margo in soaps and Maxo in HI categories.

    Outlook

    We continue to maintain our HOLD rating on the stock. We value the stock at Rs 215, valuing the business at 25x FY25 earnings.

    For all recommendations report, click here

    Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

    Jyothy Laboratories - 27 -01-2023 - ic

    Broker Research
    first published: Jan 29, 2023 07:08 pm

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