Buy Patanjali Foods, target price Rs 2295: HDFC Securities

HDFC Securities has buy call on Patanjali Foods with a target price of Rs 2295. The current market price of Patanjali Foods Ltd. is Rs 1971.1.

Patanjali Foods Ltd., incorporated in the year 1986, is a Small Cap company (having a market cap of Rs 71293.08 Crore) operating in FMCG sector.

Patanjali Foods Ltd. key Products/Revenue Segments include Edible Oil, Food Products, Power Generation for the year ending 31-Mar-2023.



Financials
For the quarter ended 30-06-2024, the company reported a Standalone Total Income of Rs 7202.36 Crore, down -13.72 % from last quarter Total Income of Rs 8348.03 Crore and down -7.79 % from last year same quarter Total Income of Rs 7810.50 Crore. Company reported net profit after tax of Rs 262.90 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 72.81 per cent stake in the company as of 30-Jun-2024, while FIIs owned 10.3 per cent, DIIs 3.04 per cent.