Motilal Oswal has neutral call on Jyothy Labs with a target price of Rs 160. The current market price of is Rs 149.05.
Jyothy Labs Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 5539.34 Crore) operating in FMCG sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 499.14 Crore, up 3.34 % from last quarter Total Income of Rs 482.99 Crore and up 25.54 % from last year same quarter Total Income of Rs 397.60 Crore. Company reported net profit after tax of Rs 27.28 Crore in latest quarter.
Investment Rationale
RoCE at 15% in FY21 remains far inferior v/s its peers. No marked uptick is visible from a medium- to long-term horizon to justify a target valuation of 16x FY23E EV/EBITDA (~50% discount to its peers), which results in a TP of INR160 per share
Promoter/FII Holdings
Promoters held 62.9 per cent stake in the company as of March 31, 2021, while FIIs held 12.5 per cent, DIIs 16.9 per cent and public and others 7.8 per cent.
Jyothy Labs Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 5539.34 Crore) operating in FMCG sector.
Financials
For the quarter ended 31-03-2021, the company reported a Consolidated Total Income of Rs 499.14 Crore, up 3.34 % from last quarter Total Income of Rs 482.99 Crore and up 25.54 % from last year same quarter Total Income of Rs 397.60 Crore. Company reported net profit after tax of Rs 27.28 Crore in latest quarter.
Investment Rationale
RoCE at 15% in FY21 remains far inferior v/s its peers. No marked uptick is visible from a medium- to long-term horizon to justify a target valuation of 16x FY23E EV/EBITDA (~50% discount to its peers), which results in a TP of INR160 per share
Promoter/FII Holdings
Promoters held 62.9 per cent stake in the company as of March 31, 2021, while FIIs held 12.5 per cent, DIIs 16.9 per cent and public and others 7.8 per cent.
(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the stock/s mentioned.)
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