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IDFC maintains outperform call on Greenply Industries, expects earnings to double over FY17-20

IDFC expects the company’s earnings to double over FY17-20.

Shares of Greenply Industries gained 1.5 percent intraday Tuesday as broking house IDFC has maintained outperform rating with a target of Rs 390 per share.

The brokerage house said that any revival in real estate would aid growth for the company.

Further, it expects the company’s earnings to double over FY17-20.

It believes that the plywood volume growth is likely to revive to 12-15 percent, Y-o-Y.

At 11:08 hrs Greenply Industries was quoting at Rs 315, up Rs 4.90, or 1.58 percent on the BSE.

The share touched its 52-week high Rs 335 and 52-week low Rs 255 on 08 November, 2017 and 18 August, 2017, respectively.

Currently, it is trading 5.97 percent below its 52-week high and 23.53 percent above its 52-week low.

The company's trailing 12-month (TTM) EPS was at Rs 10.84 per share. (Sep, 2017). The stock's price-to-earnings (P/E) ratio was 29.06.

The latest book value of the company is Rs 64.18 per share. At current value, the price-to-book value of the company was 4.91.
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