Greenpanel Industries Ltd., incorporated in the year 2017, is a Small Cap company (having a market cap of Rs 2260.02 Crore) operating in Building Materials sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated Total Income of Rs 317.33 Crore, up 40.99 % from last quarter Total Income of Rs 225.07 Crore and up 34.35 % from last year same quarter Total Income of Rs 236.19 Crore. Company reported net profit after tax of Rs 30.45 Crore in latest quarter.
Investment Rationale
On the back of better than expected demand and pricing scenario, the brokerage upgrades EPS estimates for Greenpanel by 39%/14% for FY22E/FY23E respectively. Assigning a DCF derived implied P/E multiple of 18.5x on FY23E EPS of Rs 14.5, the brokerage arrives at a target price of Rs 268, translating into an upside of 45%.
Promoter/FII Holdings
Promoters held 53.1 per cent stake in the company as of Dec 30, 2020, while FIIs and DIIS held 29.29 per cent and public and other 17.6 per cent.
