Sharekhan has given Buy recommendation for Greenlam Industries with a target price of Rs. 2127 in its research report issued on Feb 08, 2022

Sharekhan’s research report on Greenlam Industries

The company reported in-line revenue for Q3FY2022, while OPM lagged due to pollution-related operational disruptions caused at its NCR plant. The laminate demand environment remains healthy along with record high prices post Q3. It has passed on the entire raw material and international freight inflation to consumers. The company’s Rs. 950 crore capex plan for laminate, particle board, and plywood over 2-3 years remain on track.

Outlook

We retain Buy on Greenlam Industries Limited (Greenlam) with an unchanged PT of Rs. 2,127, considering its strong growth outlook over FY2021-FY2024E.

More Info on Greenlam Industries

At 17:30 Greenlam Industries was quoting at Rs 339.30, down Rs 4.15, or 1.21 percent.

It has touched an intraday high of Rs 348.30 and an intraday low of Rs 337.00.

It was trading with volumes of 11,670 shares, compared to its thirty day average of shares, a decrease of percent.

In the previous trading session, the share closed down 3.29 percent or Rs 11.70 at Rs 343.45.

The share touched its 52-week high Rs 404.98 and 52-week low Rs 178.72 on 14 January, 2022 and 15 March, 2021, respectively.

Currently, it is trading 16.54 percent below its 52-week high and 89.12 percent above its 52-week low.

Market capitalisation stands at Rs 4,094.74 crore.

 

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