Gravita India - A Capex, ESG Play; ICICI Securities Initiates Coverage With A Buy

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..ICICI Securities Report.We initiate coverage on Gravita India Ltd. with a Buy rating. Key points:Three-dimensional growth focus – spanning geographies, products and value chain – to aid earnings growth; macro tailwinds in recycling may be a formidable growth catalyst;ESG endeavour being strengthened with steep and crisp targets; and free cashflow generation even during the period of peak capex may maintain balance sheet strength. We peg Ebitda/EPS growth of 38%/24% through to FY26E and Ebitda margin improvement of 100-150 bps p.a. (versus FY24) aided by volume growth. That said, in our view, earnings trajectory may improve further from FY27E aided by higher capacity utilisation; hence, we ascribe a price/earning multiple of 21 times (two deviations above past one-year mean) FY26E EPS, resulting in a target price of Rs 1,150..Click on the attachment to read the full report:.New Maruti Suzuki Swift Launched — Price Hiked By Rs 24,000.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit. .Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Gravita India - A Capex, ESG Play; ICICI Securities Initiates Coverage With A Buy

Values Gravita India at Rs 1,150/share on 21 times FY26E EPS

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Gravita India - A Capex, ESG Play; ICICI Securities Initiates Coverage With A Buy

Values Gravita India at Rs 1,150/share on 21 times FY26E EPS

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