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Buy Radico Khaitan; target of Rs 1100: ICICI Direct

ICICI Direct is bullish on Radico Khaitan has recommended buy rating on the stock with a target price of Rs 1100 in its research report dated August 12, 2022.

August 14, 2022 / 11:18 AM IST
 
 
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ICICI Direct's research report on Radico Khaitan

Radico Khaitan (earlier Rampur Distillery Company) is among the largest manufacturers of Indian made foreign liquor (IMFL) in India. The company is also a supplier of Indian made Indian liquor (IMIL) and bulk alcohol in India. IMFL segment comprises ~80% of consolidated revenues. The rest is contributed by IMIL and bulk alcohol • P&A volumes contribute 30% to overall IMFL volumes (rest by popular).

Outlook

We remain positive on the stock and maintain our BUY recommendation. We value the stock at Rs 1100 i.e. 38x P/E on FY24E EPS.

For all recommendations report, click here

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Radico Khaitan - 120822 - ic

Broker Research
first published: Aug 14, 2022 11:18 am

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