Buy EID Parry (India), target price Rs 655: IIFL

IIFL has buy call on EID Parry (India) with a target price of Rs 655. The current market price of EID Parry (India) Ltd. is Rs 634.5.

EID Parry (India) Ltd., incorporated in the year 1975, is a Mid Cap company (having a market cap of Rs 11259.47 Crore) operating in Sugar sector.

EID Parry (India) Ltd. key Products/Revenue Segments include Sugar, Other Operating Revenue, Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 7206.14 Crore, up 25.19 % from last quarter Total Income of Rs 5756.35 Crore and up 63.34 % from last year same quarter Total Income of Rs 4411.79 Crore. Company reported net profit after tax of Rs 493.54 Crore in latest quarter.

Investment Rationale
The stock has given a consolidation breakout.