Borosil Ltd. share price target

Is maintain our BUY rating and maintain our target price of Rs.490. The company continues to report robust topline led by strong growth in the consumer segment, 9M performance was already exceeded FY20 performance, which showcases how far the brand has come. The SIP division continues to support the overall growth. We further believe, the company's decision to demerge its SIP division is a step in the right direction, given both divisions have a different set of requirements and it potentially could pave the way for a larger chance of getting a strategic investor or an M&A opportunity. We continue to believe both the divisions have...

has deep understanding of glass and glass products, which has come in handy. With a slew of technological advancements and high priority to automation, the opalware plant has been the prime mover of margin expansion. The Jaipur plant is expected to be a key driver for consumer business in the coming years. These advantages, coupled with encouraging...

Is maintain our BUY rating with a revised target price of Rs.375 (Rs. 300), the upward revision in price target is on back robust growth in the current quarter and a strong outlook for the future. Borosil posted its best quarterly performance, led by a strong uptick in both Consumer and Scientific divisions. While Q2FY21 was impacted by the pandemic, the company's performance was better than the normalized quarter (+27% compared to Q2FY20). The consumer division continues to gain momentum, with sales in Opalware, Hydra glassware and Appliance gaining traction, this optimism is further backed by positive feedback from channel partners. The Scientific division continues to perform well, despite...

Laboratory to Kitchen - Cooking up a Storm We initiate coverage on Borosil, a thinly researched stock and a household name in the microwaveable glassware industry, with a BUY and TP of Rs300. Fortified by decades of experience, a powerful brand and a distribution network, the company commands ~60% market share in the microwaveable glassware industry. This is likely to be successfully leveraged by diversifying into new consumer categories. The company's highly profitable cash cow - the Scientific and Industrial Products (SIP) division, which commands a ~60% market share in the lab glassware segment,...

We recently interacted with Borosil, a household name in the consumer houseware industry, which primarily operates its Consumer Products Division (CPD) and Scientific and Industrial Products Division (SIP). In its kitchenware segment, the company is rapidly expanding to cater to entire kitchen requirements beyond its traditional glass and opal. In the SIP division, the company is expanding its product portfolio from Lab Glassware, where it has 60% market share to lab equipment and pharma packaging. A brief consumer and dealer survey that we carried out also...