Healthy margins offset volume weakness

Company

08 Nov 2024 | 5 Min Read

CMP: INR 541, TP: INR 660 (+22%) Buy TP change Rating change Bloomberg GUJGA IN Equity Shares (m) 688 M.Cap.(INRb)/(USDb) 372.3 / 4.4

Healthy margins offset volume weakness

EBITDA and PAT beat estimates

Volume guidance remains cautious

Recovery in ceramic exports and decline in spot LNG prices key catalysts

Reiterate BUY rating with TP of INR660