Kotak starts India's Indo-MIM at 'reduce', sees limited upside despite strong growth
BUZZ-Kotak starts India's Indo-MIM at 'reduce', sees limited upside despite strong growth ** Shares of India's Indo-MIM IDOM.NS rise as much as 2.3% to 1,188 rupees
** Kotak Institutional Equities initiates coverage of co with "reduce" and PT of 1,110 rupees, citing limited valuation upside despite multiple growth opportunities
** Brokerage forecasts revenue and EBITDA CAGR of 24% and 26%, respectively, over FY26-FY31, driven by growth across metal injection moulding, consumer electronics, casting and machining
** Expects net profit to grow at 29% CAGR over FY26-FY31, but sees EBITDA margin staying around 28%, as higher-margin aerospace growth is offset by consumer electronics
** Says co's leadership, aerospace growth and available capacity support long-term expansion
** Flags short order-book visibility and risks from slower MIM growth and failure to gain share in consumer electronics
** Stock up 64.8% since listing on July 30
(Reporting by Surbhi Misra in Bengaluru)
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