Buy Laxmi Organic Industries, target price Rs 345: Axis Securities

Axis Securities has buy call on Laxmi Organic Industries with a target price of Rs 345. The current market price of Laxmi Organic Industries is Rs 309.6.
Laxmi Organic Industries Ltd., incorporated in the year 1989, is a Small Cap company (having a market cap of Rs 8532.64 Crore) operating in Chemicals sector.

Laxmi Organic Industries Ltd. key Products/Revenue Segments include Chemicals, Other Operating Revenue, Jobwork & Spares and Export Incentives for the year ending 31-Mar-2024.



Financials
For the quarter ended 30-06-2024, the company reported a Consolidated Total Income of Rs 730.14 Crore, down -8.73 % from last quarter Total Income of Rs 799.96 Crore and down -1.00 % from last year same quarter Total Income of Rs 737.53 Crore. Company reported net profit after tax of Rs 34.35 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 69.55 per cent stake in the company as of 30-Jun-2024, while FIIs owned 1.05 per cent, DIIs 2.16 per cent.