External broker reports(aggregated public sources), Geojit BNP Paribas

Geojit

Geojit BNP Paribas is a leading Indian investment services company with a strong presence in the Gulf Cooperation Council countries. 

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External broker reports(aggregated public sources)

Equity Bottom-Up

<p>Revenue/PAT to grow at 18%/23% CAGR over FY21-23E. We value AFL at FY23E P/E of 19x considering healthy growth &amp; RoE, and no debt. Revenue growth aided by healthy growth in feed volumes For Q4FY21, revenue grew by 6% YoY on account of 16%YoY growth in Feed segment while Exports de-grew by 23%YoY. Feed volumes improved by 14%YoY while export volumes declined by 19%YoY mainly due to disruption in marine logistics, weak demand, and recall of certain products sold in USA. As restaurants &amp; malls are reopening, demand is picking up which is supporting prices also.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Revenue/PAT to grow at 18%/23% CAGR over FY21-23E. We value AFL at FY23E P/E of 19x considering healthy growth &amp; RoE, and no debt. Revenue growth aided by healthy growth in feed volumes For Q4FY21, revenue grew by 6% YoY on account of 16%YoY growth in Feed segment while Exports de-grew by 23%YoY. Feed volumes improved by 14%YoY while export volumes declined by 19%YoY mainly due to disruption in marine logistics, weak demand, and recall of certain products sold in USA. As restaurants &amp; malls are reopening, demand is picking up which is supporting prices also.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

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