Prabhudas Lilladher recommended accumulate rating on Britannia Industries with a target price of Rs 6298 in its research report dated November 13, 2018.
Prabhudas Lilladher's research report on Britannia Industries
Britannia is on the cusp of its transformation as a "Total Foods company" given 1) successful launch of cream wafers 2) Innovations like Pure Magic Choco lush, GoodDay cashew almond and Tiger Choco cookies in core biscuits segment 3) launch of tetrapack flavored milk and dairy whitener and 4) planned entry in croissants from Chipita JV in 3Q19.
Outlook
We estimate 18.4% PAT CAGR over FY18-21 and value the stock at 46xFY21 EPS (46xDec20 EPS earlier) given strong growth outlook and arrive at a SOTP based 18-month target price of Rs6298 (18-month target of Rs6568 earlier). Retain Accumulate.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Read More
