Equirus has initiated an “add” rating on Jyoti CNC Automation, assigning a target price of ₹1,450. This implies an upside potential of 5% from the current market price of ₹1,379.00.
The brokerage highlighted that Jyoti CNC Automation is well-positioned to capitalize on multiple sectoral tailwinds both domestically and globally. The company is ahead of the curve, actively developing capabilities and expanding capacities to seize large opportunities in the market.
Equirus also emphasized Jyoti CNC’s significant capex plans, which include robust backward integration to support its growth trajectory. The brokerage estimates an impressive sales/EBITDA/PAT compound annual growth rate (CAGR) of 40%, 47%, and 66%, respectively, over FY24-FY27, with an expected return on equity (RoE) of 27% by FY26.
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