ICICI Direct has given Buy recommendation for Astec Lifesciences with a target price of Rs. 2215 in its research report issued on Jul 27, 2022

ICICI Direct’s research report on Astec Lifesciences

Incorporated in 1994, Astec Lifescience is primarily into production of active ingredients and intermediates for the agrochemicals segment. The company operates in the space of technical as well as bulk sales. It also has a contract manufacturing business • Enterprise sales constitute ~80% of overall revenue while the rest comes from the CRAMS segment.

Outlook

We value Astec Lifesciences at 32x FY24E EPS of Rs 69.3 to arrive at a revised target price of Rs 2215/share (earlier Rs 2285/share).

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