Buy

Maintain BUY ratings on DOMS with a revised TP 3,110 per share

We maintain our BUY rating on the stock.

product basket (SKU count is up by ~300 in last 1 year), and strengthening distribution network (retail touch points are up by ~20K in last 1 year) we expect sales/PAT CAGR of 24% over FY25-FY27E. We broadly maintain our...

DOMS reported an in-line performance with revenues of Rs5,087mn (PLe core stationary business was at multi-quarter lows of 14%. Though we foresee near term growth challenges, the long-term story remains intact as the new development plan on 44-acres land parcel at Umbergaon is on track and the first building is expected to be ready by 3QFY26E. Further, phased expansion in capacities for pens, pencils, mathematical boxes, and paper stationary...

existing facility indicates true competitive edge of DOMS stems from full backward integration capabilities in core categories like pencils, sketch pens and mathematical instrument boxes. Further, a lot of new products like finger paints (check exhibit 2), floating markers (check exhibit 3) and water-based categories like pencils & pens and strengthening of the distribution network we expect sales/PAT CAGR of 27% over FY25E-FY27E. We broadly maintain our...

We maintain our BUY rating on the stock.

We maintain our BUY rating on the stock.

We maintain our BUY rating on the stock.

DOMS reported revenue/EBITDA/PAT growth of 17.3%/38.9%/49.7% YoY. Its gross/EBITDA margin expanded 466bps/302bps YoY.

We are initiating coverage on DOMS Industries Ltd. with a BUY recommendation and a price target of Rs 2,670/share, representing an upside of 22% from the CMP.

For 4QFY2016, Linc Pen & Plastics Ltd (LPPL) outperformed our estimates on both the top-line and the bottom-line front. The company's top-line for the quarter grew 13% yoy. On the operating front, the company reported margin improvement, primarily on account of lower raw material costs. Further, the net profit grew by ~65% yoy to Rs6...