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Economic Times
13-05-2025
- Business
- Economic Times
I-Sec maintains Add on Kalyan Jewellers, raises target price to Rs 550
Agencies Kalyan Jewellers' key products/revenue segments include Diamonds/Gems/Jewellery 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 6222.36 crore, down -14.97% from last quarter Total Income of Rs 7318.20 crore and up 36.34% from last year same quarter Total Income of Rs 4563.73 crore. The company has reported net profit after tax of Rs 187.60 crore in the latest quarter. The company?s top management includes Rai, Mr.T S Kalyanaraman, Mr.T K Ramesh, Mr.T K Seetharam, Nair, Kumar Saraf, Mr.A D M Chavali, Mr.T S Anantharaman, Jayendra Udeshi, Rai, Sadasivan Nair, Mr.T S Kalyanaraman, Mr.T K Ramesh, Mr.T K Seetharam, Nair, Kumar Saraf, Mr.A D M Chavali, Mr.T S Anantharaman, Jayendra Udeshi, Sadasivan Nair. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 103 crore shares outstanding. Live Events Investment Rationale ICICI Securities increases the EBITDA estimates by ~2% for FY27E, modelling revenue / EBITDA / PAT CAGRs of 28% / 32% / 49% over FY254-FY27E. The brokerage maintains ADD with a DCF-based revised target price of Rs 550 (vs Rs 520). At our target price, the stock will trade at a multiple of 35x FY27E EPS. Key risks include delay in showroom expansion and potentially higher competitive intensity in core south India markets. Promoter/FII Holdings Promoters held 62.85 per cent stake in the company as of 31-Mar-2025, while FIIs owned 16.89 per cent, DIIs 11.97 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has maintained Add call on Kalyan Jewellers with a target price of Rs 550. The current market price of Kalyan Jewellers is Rs 534.9. Kalyan Jewellers, incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 55377.77 Crore) operating in Gems and Jewellery Jewellers' key products/revenue segments include Diamonds/Gems/Jewellery and Other Operating Revenue for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 6222.36 crore, down -14.97% from last quarter Total Income of Rs 7318.20 crore and up 36.34% from last year same quarter Total Income of Rs 4563.73 crore. The company has reported net profit after tax of Rs 187.60 crore in the latest company?s top management includes Rai, Mr.T S Kalyanaraman, Mr.T K Ramesh, Mr.T K Seetharam, Nair, Kumar Saraf, Mr.A D M Chavali, Mr.T S Anantharaman, Jayendra Udeshi, Rai, Sadasivan Nair, Mr.T S Kalyanaraman, Mr.T K Ramesh, Mr.T K Seetharam, Nair, Kumar Saraf, Mr.A D M Chavali, Mr.T S Anantharaman, Jayendra Udeshi, Sadasivan Nair. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 103 crore shares Securities increases the EBITDA estimates by ~2% for FY27E, modelling revenue / EBITDA / PAT CAGRs of 28% / 32% / 49% over FY254-FY27E. The brokerage maintains ADD with a DCF-based revised target price of Rs 550 (vs Rs 520). At our target price, the stock will trade at a multiple of 35x FY27E EPS. Key risks include delay in showroom expansion and potentially higher competitive intensity in core south India held 62.85 per cent stake in the company as of 31-Mar-2025, while FIIs owned 16.89 per cent, DIIs 11.97 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.
Economic Times
13-05-2025
- Business
- Economic Times
Reduce Asian Paints, target price Rs 2,000: ICICI Securities
Agencies Asian Paints Dividend History Asian Paints' key products/revenue segments include Paints, Enamels, Varnishes & Black, Other Operating Revenue and Sale of 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 8458.76 crore, down -2.69 % from last quarter Total Income of Rs 8692.44 crore and down -5.15% from last year same quarter Total Income of Rs 8917.87 crore. The company has reported net profit after tax of Rs 677.78 crore in the latest quarter. The company's top management includes Mr.R Seshasayee, Bhattacharya, Vittal, Sarwate, Vakil, Choksi, Vakil, Dani, Syngle, Choksi, Katragadda. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 96 Crore shares outstanding. Investment Rationale Live Events Promoter/FII Holdings Promoters held 52.63 per cent stake in the company as of 31-Mar-2025, while FIIs owned 12.22 per cent, DIIs 15.51 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has a Reduce call on Asian Paints with a target price of Rs 2,000. The current market price of Asian Paints is Rs 2,360.35. Asian Paints, incorporated in 1945, is a Large Cap company with a market cap of Rs 225123.72 crore, operating in Building Materials Paints' key products/revenue segments include Paints, Enamels, Varnishes & Black, Other Operating Revenue and Sale of services for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 8458.76 crore, down -2.69 % from last quarter Total Income of Rs 8692.44 crore and down -5.15% from last year same quarter Total Income of Rs 8917.87 crore. The company has reported net profit after tax of Rs 677.78 crore in the latest company's top management includes Mr.R Seshasayee, Bhattacharya, Vittal, Sarwate, Vakil, Choksi, Vakil, Dani, Syngle, Choksi, Katragadda. Company has Deloitte Haskins & Sells LLP as its auditors. As on 31-03-2025, the company has a total of 96 Crore shares Securities smodel Asian Paints to report revenue and PAT CAGR of 6.7% and 4.6%, respectively over FY25-27. With aggressive capex and impact on margins, RoCE is also expected to decline over FY25-27. The brokerage maintains REDUCE with DCF-based unchanged target price of Rs 2,000 (implied target P/E of 43x FY27E). Key risks are steep correction in commodity prices and better-than-expected success of new held 52.63 per cent stake in the company as of 31-Mar-2025, while FIIs owned 12.22 per cent, DIIs 15.51 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.
Economic Times
07-05-2025
- Business
- Economic Times
I-Sec maintains Reduce on Avenue Supermarts, revises target price to Rs 3,500
Agencies Avenue Supermarts' key products/revenue segments include Income from Retailing 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 14896.91 crore, down -6.88 % from last quarter Total Income of Rs 15996.69 crore and up 16.71% from last year same quarter Total Income of Rs 12764.42 crore. The company has reported net profit after tax of Rs 550.79 crore in latest quarter. The company?s top management includes Bhave, Navil Noronha, Baheti, Machado, Chandak, Unadkat. Company has S R B C & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 65 crore shares outstanding. Live Events Investment Rationale ICICI Securities largely maintains its earnings estimates, modelling revenue/ EBITDA/PAT CAGR of 18%/18%/18% over FY25-27E. The brokerage retains REDUCE with a DCF-based revised target price of Rs 3,500 (vs Rs 3,200). Key upside risks are a) significant improvement in the recovery of general merchandise and apparel, and b) lower competitive intensity from quick commerce. Key downside is lower-than-expected retail expansion. Promoter/FII Holdings Promoters held 74.65 per cent stake in the company as of 31-Mar-2025, while FIIs owned 8.18 per cent, DIIs 9.08 per cent. (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel ICICI Securities has maintained its Reduce call on Avenue Supermarts with a revised target price of Rs 3,500 (Rs 3,200 earlier). The current market price of Avenue Supermarts is Rs 4028. Avenue Supermarts, incorporated in 2000, is a Large Cap company with a market cap of Rs 260852.86 crore, operating in the Retail Supermarts' key products/revenue segments include Income from Retailing and Other Operating Revenue for the year ending the quarter ended 31-03-2025, the company has reported a Consolidated Total Income of Rs 14896.91 crore, down -6.88 % from last quarter Total Income of Rs 15996.69 crore and up 16.71% from last year same quarter Total Income of Rs 12764.42 crore. The company has reported net profit after tax of Rs 550.79 crore in latest company?s top management includes Bhave, Navil Noronha, Baheti, Machado, Chandak, Unadkat. Company has S R B C & Co. LLP as its auditors. As on 31-03-2025, the company has a total of 65 crore shares Securities largely maintains its earnings estimates, modelling revenue/ EBITDA/PAT CAGR of 18%/18%/18% over FY25-27E. The brokerage retains REDUCE with a DCF-based revised target price of Rs 3,500 (vs Rs 3,200). Key upside risks are a) significant improvement in the recovery of general merchandise and apparel, and b) lower competitive intensity from quick commerce. Key downside is lower-than-expected retail held 74.65 per cent stake in the company as of 31-Mar-2025, while FIIs owned 8.18 per cent, DIIs 9.08 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.
