Hold Laxmi Organic Industries, target price Rs 335: Prabhudas Lilladher

Prabhudas Lilladher has hold call on Laxmi Organic Industries Ltd. with a target price of Rs 335. The current market price of Laxmi Organic Industries is Rs 299.45.

Laxmi Organic Industries Ltd., incorporated in the year 1989, is a Small Cap company (having a market cap of Rs 7936.27 Crore) operating in General sector.

Laxmi Organic Industries Ltd. key Products/Revenue Segments include Chemicals, Others, Jobwork & Spares, Coal, Scrap, Export Incentives, Other Operating Revenue for the year ending 31-Mar-2022.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 655.05 Crore, down -13.66 % from last quarter Total Income of Rs 758.73 Crore and up 6.55 % from last year same quarter Total Income of Rs 614.77 Crore. Company reported net profit after tax of Rs 8.63 Crore in latest quarter.


Investment Rationale
While the brokerage likes LXCHEM’s stronghold in both AI and SI business, it believes that FI scale up will be gradual, while most positives are factored in its valuations.EPS. The stock currently trades at 44x and 38x on EPS of Rs451 and 519.6 of FY23/24E respectively.

Promoter/FII Holdings
Promoters held 72.51 per cent stake in the company as of 30-Sep-2022, while FIIs owned 0.6 per cent, DIIs 1.62 per cent.