Home Finance Shaily Engineering Plastics share price: Buy Shaily Engineering Plastics, Target Price Rs...

Shaily Engineering Plastics share price: Buy Shaily Engineering Plastics, Target Price Rs 1670: ICICI Direct

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ICICI Direct Ltd. Put Buy on Call with a target price of Rs.1670. Shelly Engineering Plastics Ltd. . The current market price of Rs.1470 is Rs. The time period given by analysts is 18 months when Shelly Engineering Plastics Ltd. price can reach its target.

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.

financial situation
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.

Investment Plea
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).

(The views and recommendations in this section are those of the analysts and do not represent those of ETMarkets.com. Please consult your financial advisor before taking any position in the mentioned stock.)

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