Time period given by analyst is six months when Finolex Industries Ltd. price can reach defined target.
Finolex Industries Ltd., incorporated in the year 1981, is a Mid Cap company (having a market cap of Rs 11919.36 Crore) operating in Plastics sector.
Finolex Industries Ltd. key Products/Revenue Segments include PVC Pipes & Fittings, Scrap and Other Operating Revenue for the year ending 31-Mar-2020.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 981.08 Crore, down -22.31 % from last quarter Total Income of Rs 1262.88 Crore and up 72.00 % from last year same quarter Total Income of Rs 570.39 Crore. Company reported net profit after tax of Rs 147.12 Crore in latest quarter.
Investment Rationale
The stock is currently trading at valuation of 16x FY23E earnings. The brokerage feels the base case fair value of the stock is Rs. 206 (18.6x FY23E) and bull case fair value is Rs. 222 (20x FY23E). Investors willing to take risk can buy the stock in the band of Rs. 180-186 and add on dips at the price of Rs 166.
(Disclaimer: Views and recommendations given in this section are the analysts’ own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.
