Sharekhan recommends buying Vinati Organics at Rs 2000

Sharekhan has upgraded its rating for Vinati Organics to "Buy" from "Hold." This change comes as they expect strong sales growth in key products like ATBS and Antioxidants. The company is projected to grow its revenue by 20% over the next three years. Sharekhan believes that Vinati Organics will maintain a good profit margin of 26% to 27% in the long term. Analysts predict that the company's revenue and profit after tax will grow at rates of 19.8% and 21.3%, respectively, from FY24 to FY27. With these positive forecasts, Sharekhan set a target price of Rs 2,000 for the stock, applying a valuation multiple of 35 times its earnings per share expected in FY27.