Buy Crompton Greaves, target price Rs 500: JM Financial

Buy Crompton Greaves, target price Rs 500:  JM Financial

JM Financial has buy call on Crompton Greaves Consumer Electricals with a target price of Rs 500. The current market price of Crompton Greaves Consumer Electricals Ltd. is Rs 410.35.

Crompton Greaves Consumer Electricals Ltd., incorporated in the year 2015, is a Mid Cap company (having a market cap of Rs 25770.00 Crore) operating in Consumer Durables sector.

For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 1348.17 Crore, up 11.13 % from last quarter Sales of Rs 1213.19 Crore and up 25.85 % from last year same quarter Sales of Rs 1071.29 Crore Company reported net profit after tax of Rs 151.09 Crore in latest quarter.

Investment Rationale
The brokerage values Crompton at 40x (vs. 35x earlier) Mar’23 EPS to arrive at Mar’22 TP of INR 500

Promoter/FII Holdings
Promoters held 16.2 per cent stake in the company as of Sept 30, 2020, while FIIs held 30.3 per cent, DIIs 26.1 and public and others 17.4 per cent.

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