Sharekhan has given Buy recommendation for V-Guard Industries with a target price of Rs. 311 in its research report issued on Feb 04, 2021

Sharekhan’s research report on V-Guard Industries

V-Guard reported strong revenues and operating margins leading to 79.6% y-o-y growth in net profit which remained better than estimates. Management expects to get back on to the growth path with a rebound in business environment and highlighted that demand drivers remain healthy across businesses. Expect summer products to come back strongly with some pent-up demand. The company’s strong balance sheet, cash flow and reputed brand along with strong business fundamentals provide comfort in the present environment.

Outlook

We retain Buy on V-Guard Industries Limited (V-Guard) with a revised PT of Rs. 311, considering its improving business operations.

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