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  • VST Inds.

    On account of significant increase in the direct taxes under GST, volume for FY18 remained flat, however company took price hike of ~10% during the year. We are factoring muted volume growth for FY19-20E, but expect increase in proportion of high valued cig...

    Buy Reco. Price: 2,932.65

  • Heritage Foods

    Heritage, the only listed player in dairy space with 100% of direct milk procurement and 100% B2C sales, enjoys 10-12% market share in organised dairy segment. We expect revenue and PAT CAGR of 11% and 30% over FY18-20E owing to (a) divestment of its loss m...

    Buy Reco. Price: 552.00

  • Future Consumer

    Supported by its subsidiaries, international tie-ups and JVs, FCL has been launching various innovative products in the food & beverages (F&B) categories and home & personal care segment. It also has a big expansion plan under 'Easy Day'...

    Buy Reco. Price: 44.00

  • Minda Inds.

    MIL has emerged a strong performer and has benefited from consolidation of group entities with itself, strong demand for its products led by a buoyant automotive market and a reducing debt profile. MIL beat street estimates in Q1FY19 delivering 51% yoy reve...

    Buy Reco. Price: 370.00

  • Hatsun AgroProd.

    The company commands twice the PE multiple compared to Parag and Prabhat due to better procurement network (100% direct milk sourcing, 60-90% for peers), shorter cash conversion cycle due to high proportion of direct milk sales (70%; 30-40% for peers) and 1...

    Reduce Reco. Price: 714.65

  • Jamna Auto Inds.

    JAI has capacity of 2,40,000 tonnes of springs/annum. Shift in preference towards high tonnage trucks will favor parabolic springs (higher realizations, margins). Continued Government spending on infrastructure, free freight movement across states,...

    Buy Reco. Price: 77.55

  • Jet Airways

    We expect revenue to grow at modest CAGR of 9% over FY18-20E due to market share loss in domestic segment. Further, lower yields and lower RASK growth (-0.3% yoy in FY18) as compared to peers is another overhang. Further, rise in ATF expenses would restrict...

    Reduce Reco. Price: 220.00

  • Sheela Foam

    Sleepwell has ~23% market share in branded mattress market and is expected to benefit from shift in consumer sentiment to branded products and rising urbanisation. We estimate revenue and PAT CAGR of 16% and 31% respectively over FY18-20E. The increasing mi...

    Buy Reco. Price: 1,694.90

  • Varun Beverages

    Varun Beverage (VBL) will benefit from (a) low capex requirement (with capacity already in place), (b) attractive acquisition strategy (6x EV/EBITDA), (c) consumer’s shift towards consuming healthy drinks and (d) preferred franchisee stature of PepsiC...

    Buy Reco. Price: 790.00

  • P & G Hygiene

    We expect the company to report revenue CAGR of 11% over FY18-20E aided by 8% volume growth owing to (a) growing consumption of sanitary products, (b) penetration in tier II and tier III cities (penetration is only 16%) and (c) expansion of Vicks produc...

    Reduce Reco. Price: 9,647.40