We expect MIL to report a net revenue CAGR of ~9% to
~Rs1,106cr over FY2016-18E on back of strong growth in domestic branded sales
(owing to aggressive ad spend and addition in the number of EBOs & multi-brand
outlets [MBOs]) and healthy export revenues. On the bottom-line front, we expect
a CAGR of ~9% to Rs92cr over the same period on the back of margin
improvement. Thus, we maintain our Buy rating with the target price of Rs107.

Download Full Report View Full Report in Browser