Buy Andhra Paper, target price Rs 803: Axis Securities

Axis Securities has buy call on Andhra Paper with a target price of Rs 803. The current market price of Andhra Paper Ltd. is Rs 617.15.
Andhra Paper Ltd., incorporated in the year 1964, is a Small Cap company (having a market cap of Rs 2457.39 Crore) operating in Paper sector.

Andhra Paper Ltd. key Products/Revenue Segments include Paper & Paper Boards, Scrap and Export Incentives for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-03-2024, the company reported a Standalone Total Income of Rs 392.25 Crore, down -21.66 % from last quarter Total Income of Rs 500.70 Crore and down -35.05 % from last year same quarter Total Income of Rs 603.91 Crore. Company reported net profit after tax of Rs 38.41 Crore in latest quarter.



Promoter/FII Holdings
Promoters held 72.31 per cent stake in the company as of 31-Mar-2024, while FIIs owned 2.32 per cent, DIIs 2.6 per cent.