ICICI Direct has given Hold recommendation for Jyothy Laboratories with a target price of Rs. 145 in its research report issued on May 25, 2022

ICICI Direct’s research report on Jyothy Laboratories

Jyothy labs (JLL) is an FMCG company with a presence in fabric whiteners, detergents, dishwashing products, household insecticides (HI) & personal care products. The company has leading brand Ujala in fabric whitener with 84.1% market share. It has a sizable dish washing & HI business with mid-teens market share. Large part of the revenue is generated from Kerala and Tamil Nadu. • The company has 23 manufacturing facilities in India. Its pan-India distribution reach is close to 2.8 million outlets with direct reach of 1.0 million. Its major brands include Ujala & Henko in Fabric wash, Exo & Pril, in dishwashing, Margo in Soaps & Maxo in HI categories.


We continue to maintain our HOLD rating on the stock. We value the stock at Rs 145, valuing the business at 23x FY24 earnings.

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