KRBL Ltd Research Report By Karvy
| KRBL Ltd Research Report By Karvy | |
| Company: | KRBL |
| Brokerage: | Karvy |
| Date of report: | June 20, 2016 |
| Type of Report: | Initiating Coverage |
| Recommendation: | Buy |
| Upside Potential: | 16% |
| Summary: | Geographical Expansion to Drive Top-line Growth, with Top Basmati Rice Brands such as “India Gate” |
| Full Report: | Click here to download the file in pdf format |
| Tags: | BUY, Karvy, KRBL |
| KRBL enjoys great brand recall, on the back of quality basmati rice and years of experience at industry place which result into its products attracting premium price. Given the backdrop of rising demand for branded basmati rice globally and domestically with wide network of distribution, KRBL is better placed to capitalize on opportunities. We value the stock at 12.5x FY18E EV/EBITDA which gives the target price of Rs.347 representing 16% upside. We initiate the coverage with “BUY” recommendation on the stock with the target price of Rs.347 for a perspective of 9-12 months. |
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