Anand Rathi maintains hold on Galaxy Surfactants, raises get price to Rs 1,380

Anand Rathi has maintained hold rating on Galaxy Surfactants for the long term and raised target price to Rs 1,380 from Rs 1,260. The stock ended up 0.7% at Rs 1,310.25 on Wednesday.

Company Financials

Anand Rathi expects revenue and PAT to clock compounded growth of 12.1% and 12.7% over FY19-21.

Investment Rationale
The specialty products’ forthcoming capacity expansion and R&D would greatly benefit the company in the near future, said Anand Rathi. Further, the commissioning of the 50,000-ton performance products capacity in the first quarter would drive volume growth, the brokerage said.