Recommendation: Buy; Target Price: Rs 1670
With more than 350 grades of greases, specialty products, and lubricants, the nearly 50-year-old company is one of the major participants in the domestic market.
During the reporting quarter, revenue from operations climbed 7% year on year to Rs 1,828 crore.
Recommendation: Buy; Target price: Rs 720
Compared to Rs 5,202.6 crore in September FY23, the company's revenue dropped by 1.5% to Rs 5,125.3 crore in the September quarter.
Recommendation: Reduce; Target price: Rs 218
Recommendation: Add; Target price: Rs 405
The company announced that it intends to purchase Pargro, a non-banking financial corporation (NBFC) owned by the promoter group.
According to a regulatory filing, the company's revenue for the last quarter was Rs 6,736.5 crore, an 18.6% decrease from Rs 8,282.7 crore in the same quarter last year.
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