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Margin recovery on track; focus shifts to revenue growth acceleration EPL’s Q1FY24 print shows recovery in margins (gross profit margin up 375bps QoQ to 57.8%; and EBITDA margin up 150bps QoQ to 17.5%) aided by price hikes, lower input prices and optically lower realisations. However, revenue growth has decelerated, particularly in AMESA (and India). EAP (China) revenue growth recovery is also slower than anticipated. Despite the slowing consumption in developed markets, EPL was able...
Add EPL Ltd For Target Rs. 230 - ICICI Securities
Stressing need to focus on green growth and reduction in carbon intensity, Union Minister of Finance and Corporate Affairs Nirmala Sitharaman has said that India is all set to become energy independent by 2047 and achieving net zero by 2070. Sitharaman further said that the Indian chemical and petrochemicals sector has huge potential and it also impacts other sectors of the economy. The importance of the sector can be gauged from the fact that it deals with more than 80,000 chemicals...
India all set to become energy independent by 2047: Finance Minister
The central government has said that it will look at bringing a productivity linked incentive (PLI) scheme for the chemicals and petrochemicals sector. Addressing an industry body event organised by FICCI, Finance Minister Nirmala Sitharaman on Thursday said that the government will consider a PLI scheme for the petrochemical and chemical sectors as India aims to become energy independent and achieve net-zero carbon emission by 2070. As of now, the government has rolled out 14 PLI...
Centre plans to bring PLI scheme for chemicals, petrochemicals sectors: Finance Minister Nirmala Sitharaman
EPLL’s operating performance in the recent quarters (till 2QFY23) have been muted, due to a combination of sluggish demand and rising costs owing to inflation. However, since 3QFY23, the company’s operating performance improved, led by demand revival and softening of raw material and energy prices. Going ahead, we expect EPLL to register earnings growth, further aided by incremental revenue from Brazil. * EPLL has tapped into the Brazilian market (accounting for ~8.3% of its gl...
Buy EPL Ltd For Target Rs.270 - Motilal Oswal Financial Services Ltd
Jindal Poly Films is currently trading at Rs. 725.00, up by 52.50 points or 7.81% from its previous closing of Rs. 672.50 on the BSE. The scrip opened at Rs. 700.00 and has touched a high and low of Rs. 740.00 and Rs. 700.00 respectively. So far 67192 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1164.05 on 03-Aug-2022 and a 52 week low of Rs. 485.00 on 28-Mar-2023. Last one week high and low of the scrip sto...
Jindal Poly Films zooms on inking pact to acquire 100% stake in JPF Netherlands Investment
We had recommended a BUY on Huhtamaki India Ltd. to investors at Rs.183 for a price target of Rs.280 in the recent result update. With the recent run-up in the share price (54% return), we are now changing our rating on the stock to Neutral and recommend our investors to book profits. Read Complete Report & Disclaimer Click Here Please refer disclaimer at https://www.sushilfinance.com/Disclamier/disclaimer Member : BSE/ ...
Buy Huhtamaki India Ltd For Target Rs.280 - Sushil Finance Ltd
Gold Medal by EcoVadis – an advantage EPL’s Q4FY23 print has shown sequential improvement in EBITDA margin; however, it is still far away from normal. We believe FY24 could potentially have exponential recovery with demand normalising across geographies, selective price increases, ramp up in Brazil operation and stable inflation. EPL has shown remarkable growth in sustainable tubes (2.5x in FY23) which is aiding it to grab a higher tube market share and this phenomenon should o...
Buy EPL Ltd For Target Rs.240 - ICICI Securities
Higher gross margins surprise positively… About the stock: VIP Industries is one of Asia’s leading seller/manufacturer of various type of luggage, backpacks and handbags. VIP has a range of leading brands, positioned across entire price range, catering to value (Aristocrat) mid (VIP, Skybags) and premium (Carlton, Caprese) price points * Market leader in the organised luggage space (oligopoly market: 44% share) * VIP has, over the years, maintained balance sheet prudence...
Buy VIP Industries Ltd For Target Rs.750 - ICICI Direct
TCPL Packaging is currently trading at Rs. 1628.00, up by 41.65 points or 2.63% from its previous closing of Rs. 1586.35 on the BSE. The scrip opened at Rs. 1580.05 and has touched a high and low of Rs. 1645.00 and Rs. 1580.05 respectively. So far 1521 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1800.95 on 07-Dec-2022 and a 52 week low of Rs. 712.35 on 26-May-2022. Last one week high and low of the scrip st...
TCPL Packaging spurts on acquiring additional stake in Creative Offset Printers
VIP Industries Limited, Asia’s largest and the world’s second-largest luggage maker announced today its financial results for the quarter ended March 31, 2023. The Company delivered sales of Rs 451 crore, an increase of 27% growth against the same period last year. The past year was about transformation for VIP Industries with the company renewing its focus on manufacturing and the value segment. The company has been concentrating on increasing its top-line growth and has...
VIP Industries Q4FY23 Revenue grows by 27% to Rs. 451 crore
The Indian luggage sector is oligopolistic, especially in branded space. VIP had a 43.8% market share in 9M FY23, Safari ~24.1% and Samsonite ~32%, collectively contributing most of the branded Indian luggage. The sector, which in the past was dominated by non-branded luggage has shifted markedly to branded luggage (45% in FY20, 56% now). Hence, we initiate coverage on VIP and Safari Industries, with Buy ratings and 12-mth TPs of Rs850 and Rs2,750 (valuing both at 34x FY25e earnings, in-line ...
The Luggage Sector Update : Sanguine demand outlook for the luggage sector by Anand Rathi Share and Stock Brokers
On the cusp of recovery… Huhtamaki India (HIL) is one of the leading manufacturers of flexible packaging company in India. The company is backed by strong parent group Huhtamaki Oyj (~68% stake in HIL), which helps HIL to leverage its technical know-how and launch sustainable packaging solutions for its clients. Going forward, under its 2030 strategy HIL aims to 1) regain market share through launch of innovative and sustainable packaging solutions 2) Drive profitability through cos...
Buy Huhtamaki India Ltd For Target Rs.280 - ICICI Direct
Light at the end of the tunnel EPLL has been facing challenges for the last few quarters amid lockdown-led demand slowdown across key geographies and high raw material prices. However, with the pandemic now behind us, demand is improving and raw material prices are easing. In this report, we highlight the current demand and raw material scenario in key geographies, new businesses opportunities and progress toward sustainability. Here are the key highlights: * Demand in China (EAP) is ex...
Buy EPL Ltd For Target Rs.215- Motilal Oswal Financial Services
TCPL Packaging is currently trading at Rs. 1292.75, up by 14.40 points or 1.13% from its previous closing of Rs. 1278.35 on the BSE. The scrip opened at Rs. 1270.00 and has touched a high and low of Rs. 1292.75 and Rs. 1270.00 respectively. So far 177 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1800.95 on 07-Dec-2022 and a 52 week low of Rs. 647.70 on 11-May-2022. Last one week high and low of the scrip sto...
TCPL Packaging rises on acquiring additional stake in Creative Offset Printers
TCPL Packaging is currently trading at Rs. 1451.85, up by 55.95 points or 4.01% from its previous closing of Rs. 1395.90 on the BSE. The scrip opened at Rs. 1460.00 and has touched a high and low of Rs. 1467.90 and Rs. 1394.85 respectively. So far 4591 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 1800.95 on 07-Dec-2022 and a 52 week low of Rs. 532.80 on 14-Feb-2022. Last one week high and low of the scrip st...
TCPL Packaging shines on reporting 75% rise in Q3 consolidated net profit
Margin remains under pressure; sequential improvement visible Earnings above our estimate * EPLL reported a subdued operating performance (a contraction of 270bp YoY), led by input cost pressures and a currency devaluation, while revenue improved by 9% on back of strong demand and price hikes across regions. * We largely maintain our FY23/FY24 earnings estimate and maintain our Buy rating with a TP of INR200. Broad based revenue growth offset by a weak margin * Revenue grew 9% ...
Buy EPL Ltd For Target Rs.200 - Motilal Oswal Financial Services
JK Paper is currently trading at Rs. 425.00, up by 4.95 points or 1.18% from its previous closing of Rs. 420.05 on the BSE. The scrip opened at Rs. 427.75 and has touched a high and low of Rs. 435.90 and Rs. 424.00 respectively. So far 37343 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 449.95 on 17-Aug-2022 and a 52 week low of Rs. 192.00 on 20-Dec-2021. Last one week high and low of the scrip stood at Rs. 4...
JK Paper shines on acquiring majority stake in Horizon Packs and Securipax Packaging
The number of companies mentioning labour shortage in their quarterly earnings filings globally increased by 28 per cent in 2022 compared to 2021, a new report showed on Monday. This shows a continuous uptrend that was witnessed in recent years, while sentiment fell by 20 per cent, reveals GlobalData, a leading data analytics company. Semiconductor and supply were another top keywords discussed around the topic. The industries with the highest labour shortage discussions include cons...
Companies discussing labour shortage up by 28% in 2022: Report
Mold-Tek Packaging is currently trading at Rs. 863.50, up by 9.55 points or 1.12% from its previous closing of Rs. 853.95 on the BSE. The scrip opened at Rs. 860.50 and has touched a high and low of Rs. 864.55 and Rs. 853.65 respectively. So far 611 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 1057.85 on 19-Aug-2022 and a 52 week low of Rs. 644.10 on 29-Nov-2021. Last one week high and low of the scrip stood ...
Mold-Tek Packaging trades higher on the BSE
Mold-Tek Packaging is currently trading at Rs. 856.05, up by 7.95 points or 0.94% from its previous closing of Rs. 848.10 on the BSE. The scrip opened at Rs. 850.05 and has touched a high and low of Rs. 869.35 and Rs. 846.90 respectively. So far 6532 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 5 has touched a 52 week high of Rs. 1057.85 on 19-Aug-2022 and a 52 week low of Rs. 644.10 on 29-Nov-2021. Last one week high and low of the scrip stood...
Mold-Tek Packaging jumps on getting LoA from Grasim Industries` Birla Paints division
Gross profit margin remains depressed EPL’s Q2FY23 print was a mixed bag with revenue growth of 9% YoY (+14% QOQ) to Rs9.5bn led by growth across regions. However, gross profit margin fell 200bps QoQ to 54% despite softening raw material prices due to high-cost inventory and volatility in currencies (vs USD). Further, investment in Brazil is also adding to cost inflation. EPL believes it will maintain the double-digit revenue growth, and is working to restore EBITDA/tube to pre-covid...
Buy EPL Ltd For Target Rs.220 - ICICI Securities
Input cost inflation dampens margin Earnings below our estimate * EPLL reported a subdued operating performance, with EBITDA declining by 13% YoY to INR1.26b as the EAP business was impacted by COVID-led lockdowns in China, continuing raw material inflation, and other input cost increases. * Factoring in a revenue, EBIDTA, and adjusted PAT miss in 1Q, we decrease our FY23 earnings estimate by 10%, led by a lower operating margin estimate in Americas and Europe. We largely maintain ou...
Buy EPL Ltd For Target Rs.225 - Motilal Oswal Financial Services
In H1CY22, • The net Sales of the company grew by ~18% on a YoY basis. • The company reported EBITDA of Rs. 85.2 cr with margins of 5.6%. • PAT was reported at Rs. 32.8 cr which grew by 158% on a YoY basis, PAT margins reported was 2.2%. EPS reported is Rs. 4.34. • The company has passed a resolution in its board meeting that it will be monetizing its freehold land and building bank at Majiwada Thane, which can generate considerable free cash flow for the compa...
Buy Huhtamaki India Ltd For Target Rs.280 - Sushil Finance
The Centre on Thursday said that it has amended the Legal Metrology (Packaged Commodities) rules 2011 for ease of doing business. Now, the garment or hosiery industry selling items in loose or open will have to provide information including name and address of the manufacturer or marketer or brand owner and importer with country of origin or manufacture in case of imported products. Moreover, they will also have to give information like consumer care email id and phone number, Maximum r...
Centre amends Legal Metrology (Packaged Commodities) Rules 2011
We had Re-instating Coverage on Uflex Ltd on June 17, 2022 at a market price of Rs.552 for a target price of Rs.737, showcasing an upside of ~34%. With the recent run-up in the share price, the stock is currently trading at a high of Rs. 725 nearing our target price giving an upside of ~31%. We advise our investors to book profits at current levels as we close our recommendation on the stock and change our rating to NEUTRAL. To Read Complete Report & Disclaimer&n...
Neutral Uflex Ltd For Target Rs.737 - Sushil Finance
Jindal Poly Films is currently trading at Rs. 1052.25, up by 24.25 points or 2.36% from its previous closing of Rs. 1028.00 on the BSE. The scrip opened at Rs. 1042.25 and has touched a high and low of Rs. 1063.10 and Rs. 1042.25 respectively. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1444.40 on 17-Mar-2022 and a 52 week low of Rs. 877.85 on 12-May-2022. Last one week high and low of the scrip stood at Rs. 1063.10 and Rs. 1006.00 respectiv...
Jindal Poly Films shines on making investment in Universus Commercial Properties
B&A Packaging India is currently trading at Rs. 208.00, up by 9.00 points or 4.52% from its previous closing of Rs. 199.00 on the BSE. The scrip opened at Rs. 203.90 and has touched a high and low of Rs. 208.00 and Rs. 200.00 respectively. So far 611 shares were traded on the counter. The BSE group 'XT' stock of face value Rs. 10 has touched a 52 week high of Rs. 355.40 on 12-Jan-2022 and a 52 week low of Rs. 152.00 on 21-Jun-2022. Last one week high and low of the scrip ...
B&A Packaging India jumps on installing additional production line at Balasore
The company reported standalone net profit of Rs 18.53 crore for the quarter ended June 30, 2022 as compared to Rs 5.02 crore in the same period last year, registering a year-on-year growth of 269.12 per cent. Net revenue of the company rose substantially by 75.19 per cent at Rs 159.63 crore in April-June quarter of this fiscal as against Rs 91.12 crore in the corresponding period last year. During April-June quarter, operating expenses increased by 71.20 per cent to Rs 136.55 crore from R...
Xpro India Q1 net profit zooms 269.12% at Rs 18.53 cr
Strong recovery ahead, Maintain BUY Summary VIP Industries Q1FY23 results were stronger than our forecasts. Its net sales increased by ~2x to Rs5.9 bn on account of strong wedding season and reopening of schools and colleges. Despite gross margin falling by 101 bps YoY to 49.9%, its EBITDA margin expanded 1112 bps to 17.4%. EBITDA jumped ~7x YoY on a lower base to Rs1,029 mn. It reported adjusted net profit of Rs541 mn in Q1FY23 compared to Rs25 mn in Q1FY22. We raise our FY23/FY24 sale...
Buy VIP Industries Ltd For Target Rs.649 - IDBI Capital
Huhtamaki India is currently trading at Rs. 185.30, up by 1.60 points or 0.87% from its previous closing of Rs. 183.70 on the BSE. The scrip opened at Rs. 187.40 and has touched a high and low of Rs. 187.40 and Rs. 183.00 respectively. So far 2069 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 328.00 on 04-Aug-2021 and a 52 week low of Rs. 148.00 on 29-Mar-2022. Last one week high and low of the scrip stood at ...
Huhtamaki India trades in green on the BSE
Anuroop Packaging is planning to migration from SME (small-to-medium enterprise) Platform of BSE to main board of BSE and National Stock Exchange of India (NSE) and any other incidental matter thereto. The meeting of the Board of Directors of the company will be held on July 05, 2022 to consider the same. Anuroop Packaging is engaged in the business of providing quality fixed packaging products such as corrugated boxes, sheets, boards to clients from various industries such as pharmaceutic...
Anuroop Packaging planning to migrate to main board of BSE, NSE
Safari Industries (India) is currently trading at Rs. 892.60, up by 0.30 points or 0.03% from its previous closing of Rs. 892.30 on the BSE. The scrip opened at Rs. 905.15 and has touched a high and low of Rs. 922.00 and Rs. 891.90 respectively. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 1049.15 on 08-Feb-2022 and a 52 week low of Rs. 637.90 on 29-Jun-2021. Last one week high and low of the scrip stood at Rs. 933.30 and Rs. 879.90 respective...
Safari Industries inches up after its arm starts commercial production of luggage
PROXY PLAY ON THE DOMESTIC FMCG AND PHARMA SECTOR. The company’s business operations almost entirely depends on the growth in the FMCG and Pharma sectors as they are the largest consumers for the products manufactured by Uflex. By the year 2025, the FMCG sector is expected to grow at a CAGR of 15% to USD 220 Bn and owing to the effects of the pandemic the pharma sector is also expected to rise to USD 65 Bn by 2024 and USD ~120 Bn by 2030. Owing to the growth in the Pharma and FMCG se...
Buy Uflex Ltd For Target Rs.737 - Sushil Finance
Composite product drives revenue growth in Q4… About the stock: Time Technoplast is a leading manufacturer of polymer based packaging & composite products with 34 production facilities in 11 countries. * Established products (industrial packaging, PE pipe, battery others) contribute ~80% to the topline while value added product category (IBC, composite cylinders, mox films) contribute 20% of revenue * Focus is to increase revenue sharing from value added product category i...
Hold Time Technoplast Ltd For Target Rs.115 - ICICI Direct
The company reported standalone net profit of Rs 489.13 crore for the quarter ended March 31, 2022 as compared to Rs 227.74 crore in the same period last year, registering a year-on-year growth of 114.78 per cent. Net revenue of the company rose substantially by 50.10 per cent at Rs 1,724.12 crore in January-March quarter of this fiscal as against Rs 1,148.64 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 38.34 per cent to Rs 1,254.3...
Jindal Poly Films Q4 net profit zooms 114.78% at Rs 489.13 cr
The company reported standalone net profit of Rs 183.85 crore for the quarter ended March 31, 2022 as compared to Rs 326.74 crore in the same period last year, registering a year-on-year decline of 43.73 per cent. Net revenue of the company rose substantially by 45.53 per cent at Rs 514.60 crore in January-March quarter of this fiscal as against Rs 353.61 crore in the corresponding period last year. During January-March quarter, operating expenses increased by 36.86 per cent to Rs 411.07 c...
Polyplex Corporation Q4 net profit down 43.73% at Rs 183.85 cr
VIP Industries is currently trading at Rs. 595.35, up by 6.95 points or 1.18% from its previous closing of Rs. 588.40 on the BSE. The scrip opened at Rs. 620.00 and has touched a high and low of Rs. 625.95 and Rs. 590.10 respectively. So far 29554 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 774.50 on 31-Mar-2022 and a 52 week low of Rs. 335.00 on 19-May-2021. Last one week high and low of the scrip stood at ...
VIP Industries surges on turning black in Q4
Shares of Cosmo Films soared 10 per cent to Rs 2,044.75 on the BSE on Wednesday’s intra-day trade after the company announced board meet on Monday, May 9, 2022 to mull issuance of bonus shares. The board will also consider the audited financial results for the quarter and year ended March 31, 2022. In the past one year, the stock of packaging company has zoomed 190 per cent, as compared to 18 per cent rise in the S&P BSE Sensex. Earlier, it had hit a record high of Rs 2,140 on Ap...
Cosmo Films surge 10% on bonus issue plan
* In Q1CY22, the net Sales of the company grew by 10% and 15% on a QoQ and YoY basis respectively. * The company reported EBITDA of Rs. 50.7 cr with margins of 7.0%. * PAT for Q1CY22 was reported at Rs. 24.6 cr which grew by 52% on a YoY basis, PAT margins reported was 3.4%. EPS reported is Rs. 3.26. * The company has passed a resolution in its board meeting that it will be monetizing its land bank in Chikoli MIDC which can generate considerable free cash flow for the company. ...
Buy Huhtamaki India Ltd For Target Rs.280 - Sushil Finance
Huhtamaki India is currently trading at Rs. 197.00, up by 8.35 points or 4.43% from its previous closing of Rs. 188.65 on the BSE. The scrip opened at Rs. 207.00 and has touched a high and low of Rs. 207.95 and Rs. 196.55 respectively. So far 88564 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 328.00 on 04-Aug-2021 and a 52 week low of Rs. 148.00 on 29-Mar-2022. Last one week high and low of the scrip stood at...
Huhtamaki India moves up on getting nod to monetize land and building in Ambernath
Jindal Poly Films is currently trading at Rs. 1141.55, up by 22.65 points or 2.02% from its previous closing of Rs. 1118.90 on the BSE. The scrip opened at Rs. 1159.95 and has touched a high and low of Rs. 1160.40 and Rs. 1131.80 respectively. So far 3447 shares were traded on the counter. The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 1444.40 on 17-Mar-2022 and a 52 week low of Rs. 713.30 on 29-Apr-2021. Last one week high and low of the scrip...
Jindal Poly Films surges as its arm to acquire entire stake in SMI Coated Products
Set for robust holiday season; managing RM inflation key monitorable… About the stock: VIP Industries is one of Asia’s leading seller/manufacturer of various types of luggage’s, backpacks and handbags. VIP has a range of leading brands, positioned across entire price range, catering to value (Aristocrat) mid (VIP, Skybags) and premium (Carlton, Caprese) price points. Market leader in the organised luggage space (oligopoly market) VIP has, over the years, maintained...
Buy VIP Industries Ltd For Target Rs.850 - ICICI Direct
We had initiated coverage on Uflex Ltd. with a BUY rating on 19-07-2021 at Rs.530 for a target price of Rs. 731 showcasing an upside of ~38%. With the recent run-up in the share price and considering the volatility in the market, we recommend our investors to book profits at the current price as we close our coverage on the company. At CMP of Rs.703, the stock has generated ~33% returns from our initiating recommendation and we change our rating to Neutral. To Read Complete Repor...
Buy Uflex Ltd For Target Rs.731 - Sushil Finance
Unpacking sustainable growth despite interim hiccups Price hikes and better demand to combat margin pressure We believe EPL with its new management under Blackstone is destined for longterm growth, driven by: a) growing revenue contribution from Personal Care products, b) a gradual shift to laminated tubes from plastic/aluminum tubes, c) a recovery in travel tube, with the lifting of travel restrictions across the globe, d) higher revenue sustainability owing to long-term contracts in...
Buy EPL Ltd For Target Rs.250 - Motilal Oswal Financial Services
Revenue growth on favourable base… About the stock: Time Technoplast is a leading manufacturer of polymer based packaging & composite products with 34 production facilities in 11 countries. * Established products (industrial packaging, PE pipe, battery others) contribute ~80% to the topline while value added product category (IBC, composite cylinders, mox films) contributes 20% of revenue * Focus is to increase revenue sharing from value added product category in the ...
Hold Time Technoplast Ltd For Target Rs.85 - ICICI Direct
Uflex Ltd. has reported numbers for the quarter and nine months ended Dec’21. Following are the highlights of the result. * Total production volume surpassed its previous record to reach 153,441 MT in Q3FY22 witnessing a jump of 38% YoY whereas total sales volume mirrored the 38% YoY increase to reach 154,224 MT. The increase in volumes was primarily due to increase utilizations and debottlenecking of plants. * Utilization levels for all the plants is 95% except Nigerian...
Buy Uflex Ltd For Target Rs.731 - Sushil Finance
Volatile RM prices impacts profitability * EPLL reported a weak operating performance in 2QFY22, despite a demand recovery, due to volatile input cost, higher freight cost, and pressure on supply-chains. * Factoring in its 2QFY22 performance, we decrease our FY22E/FY23E earnings estimate by 20%/8% due to higher RM prices and expenses on account of increased freight cost and supply-chain disruption. We value the stock at 25x FY23E EPS to arrive at our TP of INR285. We maintain our Buy ra...
Buy Essel Propack Ltd For Target Rs.285 - Motilal Oswal
Gradual recovery; margins to normalize in FY23 EPL’s Q2FY22 revenue recovery was gradual on transient issue in Europe; remaining regions showed a decent performance. Margins were hurt by the time lag in passing on raw material inflation, and higher labour and freight cost. The company remains confident of a recovery in gross margins over the next few quarters, and is working on certain costs to improve EBITDA margin as well. It is also emphasizing heavily on sustainable tube for grab...
Buy Essel Propack Ltd For Target Rs.290 - ICICI Securities
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