0 GREENLAM share price target reports by brokerages below. See what is analyst's view on GREENLAM share price forecast, rating, estimates, valuation and prediction behind the target. You may use these research report forecasts for long-term to medium term for your investment or trades in 2020.
Greenlam Industries (GRLM) reported Q3FY19 numbers along expected lines, but flat laminates’ volumes in both the domestic and export markets are disappointing. Higher realisation owing to currency depreciation and a strengthened product mix drove top-line growth. While exports are likely to pick up from Q4FY19, domestic volume growth may still take some time to recover. Factoring in the weak volume outlook, we are revising down FY19/20E EPS by 3%/10%. We are also cutting the target multiple from 24 to 22 (10% discount to CenturyPly) based on a slower-than-expected pickup in demand and a weaker-than-anticipated shift towards organised players. Maintain ‘BUY’ with a revised TP of INR877 (down from INR1,059).
SOURCE: Data from D'Market via Quandl. Intraday data delayed 15 minutes.
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