Reasons to buy Godawari Power & Ispat

GPIL, a leader in the pellet market of East India, is nearly doubling its pellet capacity to utilize its high-grade iron ore which is expected to drive robust growth in revenues and profitability along with strong margin expansion due to the high premium earned for its pellets, no premium on royalty paid by GPIL for its captive ore and captive solar power plant limiting its costs. In the longer term, GPIL has plans to commission a 2mnt steel plant all through its internal accruals, driving the next phase of EBITDA growth. What enhances our conviction is that even after accounting for weakness in commodity prices, GPIL is very attractively placed at 5x Jun’26 EV/EBITDA. Initiate with a BUY and TP of Rs1,240.

Detailed IC Report: https://bit.ly/GPILIC082024

Disclaimer: https://bit.ly/39derdz

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