Buy Aditya Birla Fashion and Retail; target of Rs 340: Emkay Global Financial

buy aditya birla fashion and retail target of rs 340 emkay global financial

Sumary of Buy Aditya Birla Fashion and Retail; target of Rs 340: Emkay Global Financial:

  • OutlookWe estimate Revenue/EBITDA CAGRs of 11%/25% over FY20-24E, led by faster recovery trends, aggressive portfolio/store expansion and improving efficiencies.
  • Valuations at ~25x Dec’23E pre-IndAS EBITDA are at a discount to peers.
  • Reiterate Buy with a Dec’22E TP of Rs340, based on 30x Dec’23E pre-IndAS EBITDA.

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