Buy Jyothy Labs, target price Rs 500: Axis Securities

Axis Securities has buy call on Jyothy Labs with a target price of Rs 500. The current market price of Jyothy Labs Ltd. is Rs 437.7.

Jyothy Labs Ltd., incorporated in the year 1992, is a Mid Cap company (having a market cap of Rs 16414.23 Crore) operating in FMCG sector.

Jyothy Labs Ltd. key Products/Revenue Segments include Personal Care and Scrap for the year ending 31-Mar-2022.



Financials
For the quarter ended 31-03-2024, the company reported a Consolidated Total Income of Rs 672.96 Crore, down -2.20 % from last quarter Total Income of Rs 688.09 Crore and up 8.08 % from last year same quarter Total Income of Rs 622.65 Crore. Company reported net profit after tax of Rs 78.15 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 62.89 per cent stake in the company as of 31-Mar-2024, while FIIs owned 16.43 per cent, DIIs 13.28 per cent.