Last Updated : Jun 25, 2020 07:59 AM IST | Source: Moneycontrol.com

Hold Greenlam Industries; target of Rs 792: ICICI Securities

ICICI Securities recommended hold rating on Greenlam Industries with a target price of Rs 792 in its research report dated June 23, 2020.

Broker Research @moneycontrolcom

live

bselive
nselive

Volume

Todays L/H

More

ICICI Securities research report on Greenlam Industries

Greenlam Industries (GRLM) has reported an impressive beat on EBITDA margins in Q4FY20 led by a sharp gross margin improvement in laminate and allied product segment, which in turn was led by superior product mix and lower input costs. This was despite losing revenues to the tune of Rs400mn-500mn in Mar’20 due to lockdown. Veneer and allied product segment however continues to disappoint with losses swelling YoY due to operating deleverage and muted realisation amid higher competitive intensity.

Outlook

With GRLM foreseeing strong market share gain opportunity in both domestic and export laminate markets in the near to medium term, we build-in a steady-state recovery in laminates segment starting Q2FY21. Maintain HOLD.

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.

Moneycontrol Ready Reckoner

Now that payment deadlines have been relaxed due to COVID-19, the Moneycontrol Ready Reckoner will help keep your date with insurance premiums, tax-saving investments and EMIs, among others.

Download a copy

WEBINAR: Tune in to find out how term insurance can provide risk protection during tough times. Register Now!