1. Bikaji Foods International:

Axis Direct maintains its ‘Buy’ rating on this packaged foods company with a target price of Rs 870, implying an upside of 10.2%. Analyst Suhanee Shome believes the company is strategically positioned to benefit from improving demand trends, rural recovery, and market share gains from unorganised players. She also expects its margins to rise on the back of strong topline growth, price hikes, and stable raw material costs.

In Q1FY26, Bikaji Foods' revenue and net profit grew 11% and 4.3% YoY, surpassing Forecaster estimates by 2.8% and 10.5%, respectively. This growth was driven by strong performance across segments, including ethnic snacks, packaged sweets, western snacks, and papad. Shome also believes the proposed GST cut on namkeens and bhujia (from 12% to 5%) could accelerate category consumption.

Management's outlook for FY26 is to grow the topline by 9-10%, with momentum expected to build in H2, supported by festive and wedding season demand. The company expanded its direct distribution network by 15,000 outlets to 3.3 lakh in Q1FY26. Shome expects the company to deliver a revenue and net profit CAGR of 14% and 31.8% over FY26-27.

2. Allied Blenders & Distillers:

ICICI Securities maintains its ‘Buy’ rating on this beverage company with a target price of Rs 600, an upside of 18.3%. Analysts Dhiraj Mistry and Manoj Menon note that ABDL is focusing on premiumisation to drive its growth and margins.

The management is aiming for mid-teens revenue growth with double-digit volume growth by FY28. They also expect half of its sales to come from premium and higher-end products. Their premium products account for only a small share (~10%) of sales but generate approximately 42% of net profits. To strengthen its portfolio, ABDL has launched ICONiQ White whisky for mid-level consumers and revamped Sterling Reserve B7 whisky in the premium segment.

Mistry and Menon mention that the backward integration is on track to complete by FY27. Capacity expansion in plastic bottle manufacturing, single malt distillery, and high-purity alcohol distillation is expected to improve gross margins by ~300 bps over two years. They expect revenue, EBITDA, and net profit CAGRs of 12%, 18%, and 28% over FY26-27.

3. Radico Khaitan:

Ventura initiates a ‘Buy’ rating on this alcoholic products manufacturer with a target price of Rs 4,133, an upside of 42.7%. Analysts highlight that Radico Khaitan has strengthened its position in the Indian made foreign liquor (IMFL) market with successful launches such as Royal Ranthambore whisky and Jaisalmer gin, gaining recognition both in India and internationally.

Growth is expected to come from premiumisation, an expanded distribution network in Andhra Pradesh, and a higher focus on the prestige & above (P&A) segment. EBITDA margins are likely to improve as raw material prices stabilise and lower energy costs reduce glass packaging expenses.

The brokerage forecasts revenue to grow at a 20% CAGR to Rs 8,393 crore by FY28, led by a 29% CAGR in the P&A segment. However, analysts note that the recent 50% tariff imposed by the US on Indian goods, may impact whisky exports. Higher duties could increase retail prices by $5-10 per bottle, limiting competitiveness against local American spirits.

4. ITC:

Deven Choksey upgrades this food, beverages & tobacco company to a ‘Buy’ rating from ‘Accumulate’, with a target price of Rs 512, an upside of 25.9%. Analyst Ishank Gupta is optimistic about the medium-term outlook of the company, led by steady momentum across core FMCG categories, increasing premiumisation in the cigarette portfolio, and continued expansion of digital-first and modern trade channels.

ITC’s revenue grew by 15.3% YoY in Q1FY26, beating Forecaster estimates by 10.2%, while net profit remained flat, missing estimates. Revenue increased due to improvements across segments, including cigarettes, FMCG, agri, and paperboards, paper & packaging. 

Management expects stable growth and distinct brand positioning in the FMCG segment, helped by continued investments in trade and marketing. Gupta estimates ITC’s revenue to deliver a CAGR of 10.6%, while net profit and EBITDA will deliver 10.1% CAGR each over FY26-28.

5. Coforge:

Motilal Oswal maintains its 'Buy' rating on this IT major, with a target price of Rs 2,240, an upside of 27.7%. Analysts, Abhishek Pathak and Keval Bhagat, note that Coforge aims to achieve $5 billion in revenue, driven by strong deal momentum and resilient client spending. Management is confident in sustaining long-term growth through large deals, diversification, and inorganic opportunities.

A strong executable order book supports the company's growth plan. Coforge is targeting at least 20 deals worth over $20 million in FY26, with five deals over the line. The company has a high win rate of 40-45% in proactive proposals, outperforming traditional request-for-proposal-led deals. This strategy is crucial to maintain its growth trajectory.

Pathak and Bhagat state that Coforge's acquisition of Cigniti will create cross-selling synergies and enhance its capabilities. They also add that inorganic growth remains a near-term priority of the management to add capability depth and diversify further. 

The company has guided for an EBIT margin of approximately 14% for FY26, which it believes is sufficient to support its growth ambitions.

Note: These recommendations are from various analysts and are not recommendations by Trendlyne.

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