Pidilite Industries share price: Motilal Oswal maintains Neutral stance with a price target of Rs 1700 per share
Brokerage firm Motilal Oswal expects earnings growth to potentially become healthy after FY22, once the near-term lockdown inflicted restrictions are lifted and material cost stabilises (their ongoing rise is not driven by structural factors). Motilal Oswal maintains Neutral stance with a price target of Rs 1700 per share (60x FY23E EPS). It said while the structural investment case remains intact, valuations are "very expensive" at 66x FY23E EPS
Motilal Oswal expects the company to bounce back strongly post the lifting of lockdowns and perform similar to what they did last year after a 56.5% decline in sales in 1QFY21: Reuters