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Hold Jyothy Laboratories; target of Rs 180: Sharekhan

Sharekhan recommended Hold rating on Jyothy Laboratories with a target price of Rs 180 in its research report dated July 23, 2019.

July 24, 2019 / 03:24 PM IST
 
 
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Sharekhan's research report on Jyothy Laboratories

For Q1FY2020, revenue grew by just 2.3% (volume growth at 5.6%), while OPM expanded by 144 bps to 15.9% due to lower other expenses. Household insecticides (HI) category continues to underperform; dishwashing category was flat while fabric care category grew by just 5%. A revival in growth for HI will take time as category has been affected by competition from illegal incense sticks and an unfavorable weather.

Outlook

We broadly maintain earnings estimates; maintain Hold rating with an unchanged PT of Rs. 180.

For all recommendations report, click here

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Broker Research
first published: Jul 24, 2019 03:24 pm

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