Investments in innovations and new product launches, coupled with advertising and digital transformation measures would contribute to revenue growth in future. The stock is currently trading at attractive valuations. Hence, we upgrade our rating on the stock to BUY with a rolled forward TP of Rs. 1,690 based on 34x FY24E adj. EPS. Aggressive pricing aids topline In Q3FY22, standalone revenue rose 3.8% YoY to Rs. 1,271cr (-5.4% QoQ) driven by price hikes and brand penetration across product categories. CPIL will continue to...