Antique Stock Broking has reiterated its ‘Buy’ call on Gravita India, raising the target price to ₹2,920 from the previous target of ₹1,710, indicating a 23.5% upside from the current market price of ₹2,365.00. The brokerage sees Gravita at the cusp of a major breakout, driven by multiple growth levers.
One of the significant growth levers is the government’s regulatory push, which is expected to support the company’s expansion plans. Additionally, the setup of a rubber recycling special purpose vehicle (SPV) in Romania is seen as another positive factor contributing to growth.
Antique has also revised its volume, revenue, EBITDA, and PAT compound annual growth rate (CAGR) estimates for FY24–27, projecting growth of 31%, 28%, 26%, and 30% respectively. Furthermore, it has increased its FY25, FY26, and FY27 EPS estimates by 3%, 8%, and 18%, respectively, reflecting its confidence in the company’s growth trajectory.
The brokerage remains bullish on Gravita, expecting strong performance across key financial metrics and growth driven by favorable industry conditions and strategic initiatives.
Disclaimer: This information is for informational purposes only and should not be considered as investment advice.
