Shelly Engineering Plastics Ltd., incorporated in the year 1980, is a Small Cap company (having a market cap of Rs 1219.61 Crore) operating in Plastics sector.
For the quarter ended 31-03-2021, the company reported standalone total income of Rs 112.16 crore, up 6.27% from previous quarter total income of Rs 105.54 crore and corresponding quarter last year total. Income up 41.20% from Rs 79.43 crore. The Company has reported a Net Profit After Tax of Rs 9.70 Crore in the latest quarter.
The brokerage believes that Shelly is in a strong position given the diversification into the new product range and strong order book from existing clients. It maintains a BUY rating on the stock with a revised target price of Rs 1670, valuing the company at 25xFY23E earnings (earlier target price Rs 1060).
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