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 (%)
FY24 FY25F FY26F FY25F FY26F FY25F FY26F FY25F FY26F FY25F FY25F FY25F
Apex Frozen Foods Ltd Agribusiness Commodities ADD 0.1 238 323 35.7% 13.4 26.9 30.3 100.7% 12.6% 8.84 7.85 1.19 1.04 5.30 1.13% 19.3%
Avanti Feeds Ltd Agribusiness Commodities REDUCE 1.1 715 354 (50.4)% 8.9 23.6 29.3 163.9% 24.0% 30.31 24.44 3.94 3.49 17.90 0.66% 13.7%
Balrampur Chini Mills Ltd Agribusiness Commodities REDUCE 1.2 516 521 1.1% 21.4 16.9 20.4 (20.9%) 20.6% 30.55 25.34 2.74 2.49 18.51 0.16% 13.1%
BCL Industries Ltd Agribusiness Commodities ADD 0.1 40 98 142.5% 3.4 4.3 7.0 28.3% 63.0% 9.41 5.77 1.73 1.33 6.82 0.21% 27.9%
Coastal Corp Ltd Agribusiness Commodities ADD 0.0 39 842 2,074.7% 30.4 70.1 77.8 130.4% 11.0% 0.55 0.50 0.13 0.11 1.40 25.45% 35.1%
Globus Spirits Ltd Agribusiness Commodities ADD 0.3 1,033 1,850 79.1% 33.5 7.6 69.2 (77.3%) 809.7% 135.84 14.93 2.99 2.51 25.07 0.07% 2.2%
Gulshan Polyols Ltd Agribusiness Commodities ADD 0.1 162 359 122.0% 3.4 11.3 35.9 228.7% 217.8% 14.31 4.50 1.54 1.16 9.19 0.26% 14.1%
India Glycols Ltd Brewers Consumer Discretionary ADD 0.6 839 2,768 230.0% 50.5 58.9 78.9 16.7% 34.0% 14.24 10.62 1.15 1.01 8.50 0.00% 8.5%
Kaveri Seed Co Ltd Agribusiness Commodities ADD 0.7 1,146 639 (44.2)% 53.3 0.0 0.0 0.0% 0.0% 0.00 0.00 0.00 0.00 0.00 0.00% 0.0%
Radico Khaitan Ltd Brewers Consumer Staples ADD 4.4 2,871 3,405 18.6% 19.1 25.8 41.6 35.0% 60.9% 111.17 69.08 14.26 11.82 57.82 0.00% 13.6%
Som Distilleries & Breweries Ltd Consumer Discretionary - overall Consumer Discretionary ADD 0.3 131 446 239.2% 12.3 15.4 20.3 25.1% 31.9% 8.56 6.49 1.51 1.06 5.66 1.13% 26.1%
Triveni Engineering and Industries Ltd Agribusiness Commodities REDUCE 0.9 356 191 (46.4)% 18.1 19.2 0.0 5.8% 0.0% 18.55 0.00 2.16 0.00 11.70 0.27% 16.7%

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