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Buy Zydus Wellness; target of Rs 2000: ICICI Direct

ICICI Direct is bullish on Zydus Wellness recommended buy rating on the stock with a target price of Rs 2000 in its research report dated February 03, 2023.

February 07, 2023 / 05:51 PM IST
 
 
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ICICI Direct's research report on Zydus Wellness

Zydus Wellness (ZWL) is one of the FMCG companies present in healthcare, nutrition & related products. The company has six brands i.e. Sugarfree, Complan, Glucon-D, Nycil, Everyuth & Nutrilite. • It commands dominant market share in sugar substitute (95.8%), Prickly heat powder (35.1%) & Glucose powder (59.9%) categories • The company has more than 850 distributors with direct reach of 6 lakh retail outlets. Its high gross margins at ~55% give it leeway to spend ~13% of sales on advertisement to support new products.


Outlook

We maintain our BUY rating on the stock. We value the stock at Rs 2000 on ascribing 26x FY25 earnings multiple.

For all recommendations report, click here

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Zydus Wellness - 06 -02 - 2023 - ic

Broker Research
first published: Feb 7, 2023 05:51 pm

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