Hold Pidilite Industries, target price Rs 1520: ICICI Securities
Pidilite Industries Ltd., incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 79532.05 Crore) operating in Diversified sector.
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Promoters held 70.2 per cent stake in the company as of Sept 30, 2020, while FIIs held 10.9 per cent, DIIs 8.7 per cent and public and others 10.2 per cent.
ICICI Securities has given a hold rating to Pidilite Industries with a target price of Rs 1520. The share price moved up by 0.20 per cent from its previous close of Rs 1561.70. The stock’s last traded price is Rs 1565.40. Pidilite Industries Ltd., incorporated in the year 1969, is a Large Cap company (having a market cap of Rs 79532.05 Crore) operating in Diversified sector.
Financials For the quarter ended 30-09-2020, the company reported a Consolidated sales of Rs 1880.33 Crore, up 114.20 % from last quarter Sales of Rs 877.84 Crore and up 4.08 % from last year same quarter Sales of Rs 1806.58 Crore Company reported net profit after tax of Rs 355.83 Crore in latest quarter.
Investment Rationale The brokerage expects the recent increase in VAM prices, it expects its EBITDA margin to remain firm in 24-25% range over the next few quarters led by its product mix improvement, cost optimisation and operating leverage. Promoter/FII Holdings Promoters held 70.2 per cent stake in the company as of Sept 30, 2020, while FIIs held 11.2 per cent, DIIs 8.3 per cent and public and others 10.2 per cent.
