Antique has initiated a buy rating on Allied Blenders with a target price of ₹405, implying a potential upside of 30.6% from the current market price (CMP) of ₹310. The brokerage highlights the company’s strategic moves towards premiumization through new product launches and global partnerships. Additionally, Allied Blenders’ presence in high-margin states, focus on backward integration, and cost rationalization are expected to drive margin expansion. Antique anticipates a revenue and EBITDA CAGR of 9% and 29%, respectively, over FY24-27, fueled by projected growth in the premium and above (P&A) segment.
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