Vadodara, Nov. 4 -- ICICI Direct Research has assigned a Buy rating to Ratnaveer Precision Engineering Limited, setting a target price of Rs.475 per share. The brokerage has arrived at this valuation by applying a multiple of 24x to its estimated FY28 earnings per share (EPS). Brokerage expects revenue to reach Rs.2,072 crore and PAT Rs.166 crore by FY28, reflecting its positive outlook on the company's growth prospects over the next two years.

In its November 2026 research update, ICICI Direct estimates Ratnaveer's revenue and profit after tax (PAT) to grow at CAGRs of 39.2% and 60.6%, respectively, between FY26 and FY28. The projections are supported by expansion in the existing stainless-steel business and the phased commissioning of ...