Nitin AWASTHI

Analyst
(91) 22 4161 1550
nitin.awasthi@incredresearch.com
Executive Summary

Nitin Awasthi joins our InCred Research team from July 2021. He has over 4.6 years of Equity Research experience. He was previously associated with organizations such as East India Securities, ITI Securities Broking, Edelweiss Broking. He possesses a unique mix of experience within not only the two segments - Wealth & Institutional, but also in Investor Relations and Forensic Audit in his prior days. He holds a Post Graduate Executive Diploma in Financial Markets from National Stock Exchange and Gokhale Institute of Politics and Economics.

Valuation
Company Industry Sector Rating MktCap
(US$bn)
Price Target
Price
Up/
down (%)
CORE EPS EPS Growth (%) PER (x) P/Bk (x) EV/EBITDA (x) Yield (%) ROAE (%)
FY21 FY22F FY23F FY22F FY23F FY22F FY23F FY22F FY23F FY22F FY22F FY22F
Apex Frozen Foods Ltd Agribusiness Commodities ADD 0.1 237 323 36.0% 12.6 13.1 13.5 4.4% 2.6% 18.03 17.58 1.56 1.44 11.33 1.11% 12.3%
Avanti Feeds Ltd Agribusiness Commodities REDUCE 1.2 618 354 (42.7)% 26.5 17.0 20.5 (35.9%) 20.8% 36.47 30.20 4.45 3.98 26.72 0.53% 14.1%
Balrampur Chini Mills Ltd Agribusiness Commodities REDUCE 1.5 527 261 (50.5)% 21.8 19.8 13.4 (9.5%) (32.4%) 26.65 39.44 3.90 3.56 17.31 0.00% 22.4%
BCL Industries Ltd Agribusiness Commodities ADD 0.2 53 98 84.0% 1.9 3.5 2.7 80.3% (21.8%) 15.20 19.45 3.52 4.53 11.89 0.33% 34.9%
Coastal Corp Ltd Agribusiness Commodities ADD 0.0 228 842 269.4% 17.7 12.2 5.4 (31.1%) (55.9%) 18.71 42.44 1.29 1.06 24.19 1.03% 10.2%
Globus Spirits Ltd Agribusiness Commodities ADD 0.3 833 1,584 90.0% 49.8 65.0 42.4 30.7% (34.7%) 12.82 19.64 3.11 2.71 7.60 0.47% 27.6%
Gulshan Polyols Ltd Agribusiness Commodities ADD 0.2 180 359 98.9% 13.0 16.8 8.8 30.1% (48.0%) 10.70 20.59 1.75 1.63 6.08 0.91% 25.6%
Kaveri Seed Co Ltd Agribusiness Commodities ADD 0.6 837 639 (23.6)% 51.7 35.9 45.5 (30.5%) 26.7% 23.29 18.37 3.81 3.22 21.87 0.33% 16.9%
Som Distilleries & Breweries Ltd Consumer Discretionary - overall Consumer Discretionary ADD 0.3 104 446 328.0% (7.8) (1.5) 8.4 (81.3%) (674.8%) (71.32) 12.41 2.52 2.05 51.60 0.00% (4.4%)
Triveni Engineering and Industries Ltd Agribusiness Commodities REDUCE 1.1 366 191 (47.9)% 11.9 15.6 70.6 31.2% 351.4% 23.37 5.18 4.62 2.45 16.35 0.00% 30.1%

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