#KRBL Ltd - Largest Basmati Rice Brand in the World
🎯 *BUY for TP 450*

*Reports Highest ever quarterly Profits*
▪️Revenue at 1240cr vs 994cr (+25% QoQ) vs 1030cr (+21% YoY)
▪️PAT at 165cr vs 109cr (+51% QoQ) vs 140cr (+18% YoY)
▪️EPS of 6.99 vs 4.63 (+51% QoQ) vs 5.98 (+18% YoY)

*Earnings Highlights*
▪️Domestic business grew ~47% YoY to 709cr
▪️Exports business grew by 73% QoQ to 485cr
▪️Gross Profit at 403cr vs 325cr YoY
▪️Gross profit margin improved due to higher avg. realization in basmati rice by 25%
▪️Cash balances at 938cr vs 407cr (+130% YoY)
▪️Sales driven by resurgent demand, price buoyancy and distribution expansion
▪️Buoyant sales of basmati and non-basmati sales over preceding quarter
▪️Unity brand has grown by 42% in volume and 50% in revenue
▪️Unity is now a Rs. 500 crore brand, drawing in customers from the un-branded segment

🎯 *KRBL has reported its Lifetime Best quarter during Q1FY23 & stock price is still 60% off ATH of 675 made during FY18*

💡 *FY23EEPS of 26.5 implies co is currently trading extremely cheap at a P/E of 10x forward earnings*

💡 *Even with conservative P/E of 17x, stock bound to reach 450*