Sharekhan's research report on Granules India
Granules is witnessing strong traction across segments, which is expected to sustain in the coming quarters as well. A favorable mix, operational efficiencies accruing would drive the margin expansion, which in turn would help company clock a 32% earnings CAGR over FY2020 to FY2023. Sturdy growth prospects, strong earnings visibility, healthy balance sheet and healthy return ratios augur well and could result in multiple re-rating.
Outlook
We maintain a Buy on Granules India Limited (Granules) with an unchanged PT of Rs 475.
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