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Buy Galaxy Surfactants; target of Rs 1900: HDFC Securities


HDFC Securities is bullish on Galaxy Surfactants has recommended buy rating on the stock with a target price of Rs 1900 in its research report dated June 30, 2020.

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HDFC Securities' research report on Galaxy Surfactants

Our BUY recommendation on GALSURF with a TP of INR 1,900 is premised on ((1) 55% revenues come from MNCs, which ensures stickiness of business, (2) EBITDA margins are stable at >12% since fluctuations in RMC are easily passed through to customers, and (3) Strong return ratios (RoE/RoIC of 26.3/24.1% in FY22).

Outlook

Our TP ...


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