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Last Updated : Oct 31, 2019 04:21 PM IST | Source: Moneycontrol.com

Hold PI Industries; target of Rs 1500: Sharekhan

Sharekhan recommended hold rating on PI Industries with a target price of Rs 1500 in its research report dated October 24, 2019.

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Sharekhan's research report on PI Industries


We introduce FY2022E estimates and expect revenue and earnings CAGR of 27.6% and 29.8%, respectively, during FY2019-FY2022E (Isagro numbers factored in from Q4FY2020). The management reiterated FY2020 guidance of over 20% revenue growth and a 50-100 bps rise in OPM. Exports (CSM) led strong performance continued in Q2FY2020. Revenue, EBITDA and PAT surged by 26%, 43% and 30% y-o-y, respectively.


Outlook


We maintain our Hold rating with a revised PT of Rs. 1,500 per share as risk-reward seems unfavourable owing to stretched valuations.


For all recommendations report, click here


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First Published on Oct 31, 2019 04:21 pm
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