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Economic Times
5 hours ago
- Business
- Economic Times
I-Sec maintains Buy on 3M India, target price Rs 33,500
ICICI Securities has maintained the Buy call on 3M India with a target price of Rs 33,500. The current market price of 3M India is Rs 29,495. 3M India, incorporated in 1987, is a Large Cap company with a market cap of Rs 33371.70 crore, operating in a Diversified sector. ADVERTISEMENT 3M India's key products/revenue segments include Transportation & Electronics, Safety & Industrial, Health Care, Consumer Products, Others for the year ending 31-Mar-2024. Financials For the quarter ended 30-06-2024, the company has reported a Consolidated Total Income of Rs 1068.33 crore, down -5.01% from last quarter Total Income of Rs 1124.73 crore and up .33 % from last year same quarter Total Income of Rs 1064.82 crore. The company has reported net profit after tax of Rs 157.15 crore in the latest quarter. The company?s top management includes D Shah, Rajan, Laroya, Jin, Sarathy, Ramadurai, D Shah, Gabhawala, Rajan, Laroya, Jin, Sarathy, Ramadurai, Gabhawala. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 1 crore shares outstanding. Investment Rationale ICICI Securities models 3M India to report revenue and PAT CAGRs of 11.7% and 22.8%, respectively, over FY25?27E with RoEcost of capital. The brokerage values the stock as per the DCF methodology with a target price of Rs 33,500 (implied target P/E of 50x FY27E). The key risks are a steep increase in competitive pressure; and commodity inflation. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Time of India
10 hours ago
- Business
- Time of India
I-Sec maintains Buy on 3M India, target price Rs 33,500
IANS 3M India's key products/revenue segments include Transportation & Electronics, Safety & Industrial, Health Care, Consumer Products, Others for the year ending 31-Mar-2024. Financials For the quarter ended 30-06-2024, the company has reported a Consolidated Total Income of Rs 1068.33 crore, down -5.01% from last quarter Total Income of Rs 1124.73 crore and up .33 % from last year same quarter Total Income of Rs 1064.82 crore. The company has reported net profit after tax of Rs 157.15 crore in the latest quarter. The company?s top management includes D Shah, Rajan, Laroya, Jin, Sarathy, Ramadurai, D Shah, Gabhawala, Rajan, Laroya, Jin, Sarathy, Ramadurai, Gabhawala. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 1 crore shares outstanding. Live Events Investment Rationale ICICI Securities models 3M India to report revenue and PAT CAGRs of 11.7% and 22.8%, respectively, over FY25?27E with RoE>cost of capital. The brokerage values the stock as per the DCF methodology with a target price of Rs 33,500 (implied target P/E of 50x FY27E). The key risks are a steep increase in competitive pressure; and commodity inflation. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has maintained the Buy call on 3M India with a target price of Rs 33,500. The current market price of 3M India is Rs 29,495. 3M India, incorporated in 1987, is a Large Cap company with a market cap of Rs 33371.70 crore, operating in a Diversified sector.3M India's key products/revenue segments include Transportation & Electronics, Safety & Industrial, Health Care, Consumer Products, Others for the year ending the quarter ended 30-06-2024, the company has reported a Consolidated Total Income of Rs 1068.33 crore, down -5.01% from last quarter Total Income of Rs 1124.73 crore and up .33 % from last year same quarter Total Income of Rs 1064.82 crore. The company has reported net profit after tax of Rs 157.15 crore in the latest company?s top management includes D Shah, Rajan, Laroya, Jin, Sarathy, Ramadurai, D Shah, Gabhawala, Rajan, Laroya, Jin, Sarathy, Ramadurai, Gabhawala. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 1 crore shares Securities models 3M India to report revenue and PAT CAGRs of 11.7% and 22.8%, respectively, over FY25?27E with RoE>cost of capital. The brokerage values the stock as per the DCF methodology with a target price of Rs 33,500 (implied target P/E of 50x FY27E). The key risks are a steep increase in competitive pressure; and commodity inflation. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
Economic Times
13-05-2025
- Business
- Economic Times
JM Financial upgrades Titan to Buy., raises target price to Rs 3,725
Synopsis JM Financial has upgraded Titan Company to a Buy rating, setting a target price of Rs 3,725, anticipating high double-digit revenue growth. Despite a recent dip in consolidated total income, the brokerage firm forecasts robust revenue, EBITDA, and PAT CAGR over the next few years. This upgrade is driven by stable margins and expected improvements in financial performance. JM Financial has upgraded Titan Company to Buy (from Hold earlier) with a revised target price of Rs 3, 725 (Rs 3,550 earlier). The current market price of Titan is Rs 3559.5. The time period given by the analyst is a year when Titan price can reach the defined target. Titan Company, incorporated in 1984, is a Large Cap company with a market cap of Rs 316691.08 crore, operating in Gems and Jewellery sector. Tired of too many ads? Remove Ads Titan's key products/revenue segments include Jewellery, Other Operating Revenue, Watches, Eyewear, Others, Other Services for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 15032.00 crore, down -15.87 % from last quarter Total Income of Rs 17,868 crore and up 18.80% from last year same quarter's Total Income of Rs 12653.00 crore. The company has reported net profit after tax of Rs 871 crore in the latest quarter. The company?s top management includes Roy, Puri, Chaudhry, Singhal, Gangadharan, Sivapraksam, Nanduri, Bhat, Pallavi Baldev, Mr.C K Venkataraman, Mr.N N Tata, Mr.B Santhanam. Company has B S R & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 89 Crore shares outstanding. Tired of too many ads? Remove Ads Investment Rationale Surge in gold prices impacted consumer sentiment and resulted in shift towards (i) lower carat products, (ii) light weight jewellery products, and (iii) products with lower making charges. Correction in gold price, if any, will be favourable and will result in increasing number of buyers and improved margins. The management has maintained its Jewellery EBIT margin guidance of 11-11.5% and is targeting high double digit revenue growth for the next few years. JM Financial cut its FY26 EPS estimates by ~1% due to higher interest and depreciation expense, while they increased FY27 EPS estimates by ~2% led by improved EBITDA margin and expected reduction in interest expenses on lower debt and GML rate normalisation. The brokerage has increased its P/E multiple from 55x (earlier) to 57x led by (1) stability in margins, and (2) robust 15%/27%/33% revenue /EBITDA/ PAT CAGR over FY25-27. They have upgraded its rating from HOLD to BUY with a revised target price of Rs 3,725 (earlier Rs 3,550) 57x Mar?27 EPS. Promoter/FII Holdings Promoters held 52.9 per cent stake in the company as of 31-Mar-2025, while FIIs owned 17.82 per cent, DIIs 11.9 per cent. (Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.)
Economic Times
13-05-2025
- Business
- Economic Times
I-Sec maintains Add on Bharat Forge, reduces target price to Rs 1,225
ICICI Securities maintains Add call on Bharat Forge with a revised target price of Rs 1,225 (Rs 1,250 earlier). The current market price of Bharat Forge is Rs 1191.2. Bharat Forge, incorporated in 1961, is a Large Cap company with a market cap of Rs 57346.73 crore, operating in the Auto Ancillaries sector. ADVERTISEMENT Bharat Forge's key products/revenue segments include Steel Forgings, Scrap, Export Incentives, Dies & Tools, Job Work, Wind Mills and Other Services for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3914.71 crore, up 11.41% from last quarter Total Income of Rs 3513.91 crore and down -7.21% from last year same quarter Total Income of Rs 4219.04 crore. The company has reported net profit after tax of Rs 284.90 crore in the latest quarter. The company?s top management includes Mr.B N Kalyani, Mr.K B S Anand, R Bhandari, Mr.P H Ravikumar, D Gupte, G Pawar, Singh, B Mane, G Sivaraman, Mr.S E Tandale, Mr.B P Kalyani, B Kalyani, Mr.G K Agarwal, Bharat Ram. The company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 48 crore shares outstanding. ADVERTISEMENT Investment RationaleBharat Forge's consolidated performance was broadly in line with I-Sec estimates led by ramp-up in overseas subs. Standalone performance was below our estimate amid weak CV exports and lumpiness in defence business. Notwithstanding near-term concerns around slowdown in US CV volumes, the brokerage believes BHFC's medium-to-longer-term growth prospects remain healthy led by further expansion in newer verticals (defence, aerospace and casting). The company is looking to increase the addressable market size by expanding into newer segment (e.g. electronics). US-tariff can potentially present new business opportunities (given its US mfg. presence). We lower FY26E/27E revenue estimates by 1?3% but raise margins by 10?30bps on better profitability for overseas subs. ICICI Securities Retains ADD; target price is revised to Rs 1,225 (vs. Rs 1,250) based on 30x FY27E EPS. Promoter/FII Holdings Promoters held 44.07 per cent stake in the company as of 31-Mar-2025, while FIIs owned 16.08 per cent, DIIs 30.19 per cent. (You can now subscribe to our ETMarkets WhatsApp channel) Disclaimer: Views and recommendations given in this section are the analysts' own and do not represent those of Please consult your financial adviser before taking any position in the stock/s mentioned.
Economic Times
12-05-2025
- Business
- Economic Times
I-Sec maintains Add on Godrej Consumer Products, raises target price to Rs 1,380
Godrej Consumer Products' key products/revenue segments include Personal Care and Other Operating Revenue for the year ending 31-Mar-2024. Financials For the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3671.61 crore, down -4.67 % from last quarter Total Income of Rs 3851.53 crore and up 6.44% from last year same quarter Total Income of Rs 3449.45 crore. The company has reported net profit after tax of Rs 411.90 crore in the latest quarter. The company?s top management includes Godrej, Vittal, Tubman Armerding, Narang, Goswami, Godrej, Godrej, Dubash, Sitapati, Puchalapalli. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 102 crore shares outstanding. Live Events Investment Rationale ICICI Securities has increased earnings estimates by ~1%/5% for FY26E/27E; modelling revenue / EBITDA / PAT CAGR of 11% / 16% / 24% over FY25-27E. It maintains an ADD rating with an SoTP-based revised target price of Rs 1,380 (was Rs 1,160 earlier). At the target price, the stock will trade at 48x P/E multiple Mar?27. Key downside risk is structural deceleration in India household insecticides and rise in competitive intensity from smaller/unorganized players. Promoter/FII Holdings Promoters held 53.07 per cent stake in the company as of 31-Mar-2025, while FIIs owned 19.54 per cent, DIIs 12.13 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has maintained an Add call on Godrej Consumer Products with a revised target price of Rs 1,380 (earlier Rs 1,160). The current market price of Godrej Consumer Products is Rs 1240.2. Godrej Consumer Products, incorporated in 2000, is a Large Cap company with a market cap of Rs 126914.37 crore, operating in the FMCG Consumer Products' key products/revenue segments include Personal Care and Other Operating Revenue for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 3671.61 crore, down -4.67 % from last quarter Total Income of Rs 3851.53 crore and up 6.44% from last year same quarter Total Income of Rs 3449.45 crore. The company has reported net profit after tax of Rs 411.90 crore in the latest company?s top management includes Godrej, Vittal, Tubman Armerding, Narang, Goswami, Godrej, Godrej, Dubash, Sitapati, Puchalapalli. Company has BSR & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 102 crore shares Securities has increased earnings estimates by ~1%/5% for FY26E/27E; modelling revenue / EBITDA / PAT CAGR of 11% / 16% / 24% over FY25-27E. It maintains an ADD rating with an SoTP-based revised target price of Rs 1,380 (was Rs 1,160 earlier). At the target price, the stock will trade at 48x P/E multiple Mar?27. Key downside risk is structural deceleration in India household insecticides and rise in competitive intensity from smaller/unorganized held 53.07 per cent stake in the company as of 31-Mar-2025, while FIIs owned 19.54 per cent, DIIs 12.13 per cent. (Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
