Add La Opala RG, target price Rs 442: Centrum Broking

Centrum Broking has add call on La Opala RG with a target price of Rs 442. The current market price of La Opala RG Ltd. is Rs 354.45. La Opala RG Ltd., incorporated in the year 1987, is a Small Cap company (having a market cap of Rs 3913.86 Crore) operating in Glass sector.

La Opala RG Ltd. key Products/Revenue Segments include Glass & Glassware, Export Incentives, Scrap and Electricity for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2022, the company reported a Standalone Total Income of Rs 82.96 Crore, down -11.97 % from last quarter Total Income of Rs 94.25 Crore and up 121.87 % from last year same quarter Total Income of Rs 37.39 Crore. Company reported net profit after tax of Rs 20.08 Crore in latest quarter.


Investment Rationale
The brokerage values the stock at 35x FY24E, which is at 10% premium to average of 5-yr PE (FY17-22). Based on it, it arrives at a target price of Rs 442

Promoter/FII Holdings
Promoters held 65.64 per cent stake in the company as of 30-Jun-2022, while FIIs owned 5.28 per cent, DIIs 15.03 per cent.