Brics PCG: 'Buy' KRBL

Brics PCG recommends 'Buy' on KRBL at Rs 108 with a target price of Rs 301.

The company has posted better than expected results in Q1FY07 with turnover incresing by 25.8% year on year (y-o-y) and net profit growing at whopping 81% led by better volumes and higher realisations due to higher share of own brands.

The company's plans to launch its own brand of rice bran oil in consumer packs by December 2007 and a 12.5-MW wind farm in August 2006 at Dhulia, Maharashtra augurs well.