Profit Set to More Than double over FY18-20E: Post Q2FY19, we had an interaction with the Sandhar management. We continue to believe in the robust growth prospects for Sandhar in the medium term. We retain our earnings estimates for FY19 and FY20 and reiterate BUY rating on the stock with revised price target of Rs420 (PER of 16xFY20E). Following are the key takeaways.