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Accumulate KS Oils, target Rs 52: Angel Broking

Posted on: May 5th, 2009 and is filed under Brokerage Recommendations.

Angel Broking has recommended an accumulate rating on KS Oils with a target price of Rs 52 in its May 4, 2009 research report. “The company’s profitability and margins are constantly improving on account of its increasing presence in the high-margin branded segment.

Going ahead, we believe, the company will continue its focus on branded sales and its growth would be primarily driven by the proposed capacity expansions. The company’s strategy of setting up its manufacturing locations close to its target markets as illustrated by its recent acquisition is expected to improve its profitability and reduce its turnaround time. At the CMP, the stock is trading at 6.2x FY2010E and 5.2x FY2011E Earnings and 1.4x FY2010E P/BV. We maintain an ‘Accumulate’ on the stock, with a target price of Rs 52,” says Angel Broking’s report.

source: Moneycontrol

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