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Posts tagged SMIFS

HG Infra is strategically positioned to attain 15.1% revenue CAGR over FY25- 27E. Buy for target price of ₹1779 (85% upside): SMIFS



HG Infra share price target

HG Infra is strategically positioned to attain 15.1% revenue CAGR over FY25- 27E, supported by ongoing execution momentum stemming from its healthy existing order book and expectations of better inflows. Further, margins are projected to remain elevated, with our expectation at ~15.3% in FY27. Consequently, EBITDA is expected to rise at a CAGR of 13.6%. Additionally, we foresee a 14.5% (adj.) PAT CAGR over FY25-27E, aided by managed depreciation and finance costs. At the CMP, the stock (excl. investments) is trading at 5.8x FY27E P/E. Based on a SOTP methodology, our target price is set at Rs1,779/share. We continue to recommend a BUY

Campus’s calibrated approach to marketing, adding more touchpoints, new launches and price hike will help market share gains. Buy for target price of ₹335 (28% upside): SMIFS



Campus Activewear share price target

Campus Activewear delivered a muted Q1FY26 performance, broadly below our expectations. Revenue grew 1.2% YoY to Rs3,433mn, supported by a 14.5% increase in ASP to Rs671, offset by an 11.7% decline in volumes. The ASP improvement was driven by pricing actions and favourable product mix. In Q1 Campus consolidated its three warehouses into a modern 300k-pair/day facility, causing a temporary dip in online sales but is expected to boost fulfilment speed, stock accuracy and working capital efficiency in coming quarters.

Dollar Industries’ strong brand recall coupled with deeper penetration and consumers shifting towards affordable branded quality products are strong macro tailwinds. Buy for target price of ₹524 (43% upside): SMIFS



Dollar Industries share price target

DIL’s strong brand recall coupled with deeper penetration and consumers shifting towards affordable branded quality products are strong macro tailwinds for the company. Currently the innerwear industry is witnessing a structural shift from unorganised to the organised sector. We expect DIL to benefit from this trend.

Lux Industries is well-poised for growth. Buy for target price of ₹1502 (17% upside): SMIFS



Lux Industries share price target

Company aims to strengthen its market share in its legacy and power brands like Lux Cozi, Lux Venus, Lux Inferno, Lux Cottswool, Lyra and ONN among many others. To achieve the same, company is doing targeted ad campaigns. Company has recently on-boarded various celebrities like Shraddha Kapoor for Lux Cozi Pynk and Kartik Aryan as the brand ambassador for its new brand “Lux Nitro”. Management believes that these new celebrity endorsements should help the company to gain further traction in the market

Huhtamaki India Ltd’s premium product to drive growth, near term issues transitory in nature, Maintain BUY for target price of ₹348 (60% upside): SMIFS



Huhtamaki share price target

Huhtamaki’s Q2CY25 performance was better than our estimates. Revenue declined YoY by ~4% but grew by 0.4% QoQ because of lower volumes. Gross margins expanded by 370bps YoY & 44bps QoQ to ~34% in Q2CY25. EBITDA grew by ~33% YoY & by ~10% QoQ largely because of focus on key product portfolio and cost efficiency measures. Sluggish urban demand is impacting FMCG volumes coupled with higher inflationary pressure, early monsoon and increase in commodization rate of products led to muted topline.

Symphony Ltd is India’s undisputed leader in the organised air cooler market with a 50% value share. Buy for target price of ₹1500 (33% upside): SMIFS



Symphony share price target

Symphony Ltd is India’s undisputed leader in the organised air cooler market with a 50% value share. Company has continued to follow its successful approach — focusing on an asset-light model supported by strong innovation, smart marketing and solid brand strategy. By partnering with OEMs for manufacturing, Symphony has maintained a light balance sheet and a clear strategic focus — a move that has helped it stay ahead in the rapidly changing consumer market.

H.G. Infra Engineering is positioned favourably to achieve 15.1% revenue CAGR over FY25-27E. Buy for target price of ₹1872 (64.5% upside): SMIFS



HG Infra share price target

HG Infra is positioned favourably to achieve 15.1% revenue CAGR over FY25-27E, to be driven by continued execution momentum on its healthy existing order book position and expectations of improved inflows. Further, margins are projected to remain elevated, with our expectation at 15.5% in FY27. Consequently, EBITDA is expected to rise at a CAGR of 14.2%.

Dollar Industries’ growth pillars are in place driven by project Lakshya. Buy for target price of ₹524 (30% upside): SMIFS



Dollar Industries share price target

DIL’s strong brand recall coupled with deeper penetration and consumers shifting towards affordable branded quality products are strong macro tailwinds for the company. Currently the innerwear industry is witnessing a structural shift from unorganised to the organised sector. We expect DIL to benefit from this trend.

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