Buy Devyani International, target price Rs 220: Motilal Oswal

Motilal Oswal has buy call on Devyani International with a target price of Rs 220. The current market price of Devyani International Ltd. is Rs 183.6.

Devyani International Ltd., incorporated in the year 1991, is a Small Cap company (having a market cap of Rs 22181.77 Crore) operating in Tourism & Hospitality sector.
Devyani International Ltd. key Products/Revenue Segments include Food Products, Other Operating Revenue and Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 826.05 Crore, down -3.21 % from last quarter Total Income of Rs 853.46 Crore and up 9.86 % from last year same quarter Total Income of Rs 751.94 Crore. Company has reported net profit after tax of Rs 35.82 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 62.74 per cent stake in the company as of 30-Sep-2023, while FIIs owned 13.34 per cent, DIIs 8.23 per cent.