Motilal Oswal has given Buy recommendation for Granules India recommended buy rating on the stock with a target price of Rs 300 in its researc with a target price of Rs. 300 in its research report issued on May 19, 2022
Motilal Oswal’s research report on Granules India
Granules India (GRAN) delivered better-than-expected 4QFY22 performance at operational level. Better realization from paracetamol supported by new launches resulted in improved profitability on a QoQ basis. We cut our EPS estimates by 3%/5% for FY23E/FY24E to factor in: a) increased price erosion in the base portfolio, b) opex towards MUPS/oncology block and c) higher freight cost.
We value GRAN at 12x 12M forward earnings to arrive at our TP of INR300.