AgenciesRelated
Related Companies
NSE
BSE
Anand Rathi has given a buy rating to Sudarshan Chemicals with a target price of Rs 585. The share price moved up by 5.41 per cent from its previous close of Rs 464.55. The stock’s last traded price is Rs 489.70.
Sudarshan Chemical Industries Ltd., incorporated in the year 1951, is a Mid Cap company (having a market cap of Rs 3304.56 Crore) operating in Chemicals sector.
Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 352.29 Crore, down 20.30 % from last quarter Sales of Rs 442.01 Crore and down 9.73 % from last year same quarter Sales of Rs 390.26 Crore. The Company reported net profit after tax of Rs 18.20 Crore in latest quarter.
Investment Rationale
The brokerage initiates coverage on the company, with a TP of Rs 585 valuing the stock at 22.3x FY23e EPS and 11.6x FY23 EV/EBITDA. Risks: RM price fluctuation; forex movements.
Promoter/FII Holdings
Promoters held 42.7 per cent stake in the company as of March 31, 2020, while FIIs held 8.3 per cent, DIIs 3.2 per cent and public and others 45.8 per cent.
Sudarshan Chemical Industries Ltd., incorporated in the year 1951, is a Mid Cap company (having a market cap of Rs 3304.56 Crore) operating in Chemicals sector.
Financials
For the quarter ended 30-06-2020, the company reported a Consolidated sales of Rs 352.29 Crore, down 20.30 % from last quarter Sales of Rs 442.01 Crore and down 9.73 % from last year same quarter Sales of Rs 390.26 Crore. The Company reported net profit after tax of Rs 18.20 Crore in latest quarter.
Investment Rationale
The brokerage initiates coverage on the company, with a TP of Rs 585 valuing the stock at 22.3x FY23e EPS and 11.6x FY23 EV/EBITDA. Risks: RM price fluctuation; forex movements.
Promoter/FII Holdings
Promoters held 42.7 per cent stake in the company as of March 31, 2020, while FIIs held 8.3 per cent, DIIs 3.2 per cent and public and others 45.8 per cent.