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Investing.com - Jefferies initiated coverage on Belrise Industries Ltd (BELRISE:IN) with a Buy rating and a price target of INR135.00, representing 31% upside potential.
The research firm expects Belrise to achieve a 12% revenue compound annual growth rate (CAGR) over fiscal years 2025-2028, driven by rising two-wheeler demand, industry premiumization, increasing content-per-vehicle, and expansion in four-wheelers and exports.
Jefferies projects a 12% EBITDA CAGR and 18% earnings per share (EPS) CAGR over the same period, along with deleveraging of the company’s balance sheet.
The firm considers Belrise’s valuation of 18 times FY26 price-to-earnings ratio attractive given the strong growth outlook for the company.
Jefferies also noted that any simplification of Belrise’s group structure could potentially boost valuations further.
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