From mint · A Ksheerasagar · · 1m
Shiprocket stock targets 30% upside
JM Financial predicts Shiprocket stock to rise 30% by FY29.
In brief
JM Financial predicts Shiprocket stock to rise 30% by FY29. JM Financial forecasts Shiprocket's stock to reach ₹165 by September 2028, a 30% gain from current price. Originally reported by mint.
Shiprocket stock targets 30% upside
JM Financial issues buy call for Shiprocket stock with 30% upside potential.
“Shiprocket received a bullish outlook from jm financial, which sees revenue rising to ₹ 43.4 billion by fy29”
Core business growth forecast
Core shipping business expected to grow at 18% cagr from fy26 to fy29.
“It expects the core business to grow at a compound annual growth rate of around 18% between fy26 and fy29”
Emerging business potential
Emerging businesses projected to contribute 43% of revenue by fy29.
“It estimates that revenue from these businesses will rise from ₹ 5.4 billion in fy26 to ₹ 18.8 billion by fy29”
Target price and upside
JM Financial sets ₹165 target price, indicating 30% upside from current price.
“It set a ₹ 165 target price, indicating 30% upside”
Revenue growth projections
Consolidated revenue expected to rise from ₹20.2 billion to ₹43.4 billion by fy29.
“The brokerage forecasted consolidated revenue to increase from ₹ 20.2 billion in fy26 to ₹ 43.4 billion by fy29e”
Profitability timeline
Emerging businesses expected to turn profitable in fy29 after losses through fy28.
“It expects the segment to remain loss-making through fy28 before turning profitable in fy29”
Stock performance since listing
Shares rose 35% premium to issue price on debut, later traded at ₹143.40.
“The shares made a strong debut on dalal street in august, listing at ₹ 131, a 35% premium to the issue price of ₹ 97”
At a glance
JM Financial forecasts Shiprocket's stock to reach ₹165 by September 2028, a 30% gain from current price.
