Buy Jubilant Ingrevia, target price Rs 475: Axis Securities

Axis Securities has buy call on Jubilant Ingrevia with a target price of Rs 475. The current market price of Jubilant Ingrevia is Rs 422.85.Axis Securities recommended to keep stop loss at Rs 405.

Jubilant Ingrevia, incorporated in the year 2019, is a Small Cap company (having a market cap of Rs 6768.65 Crore) operating in Chemicals sector.

Jubilant Ingrevia key Products/Revenue Segments include Other Operating Revenue and Sale of services for the year ending 31-Mar-2021.

Financials
For the quarter ended 31-03-2023, the company has reported a Consolidated Total Income of Rs 1153.98 Crore, down -.97 % from last quarter Total Income of Rs 1165.31 Crore and down -11.57 % from last year same quarter Total Income of Rs 1304.94 Crore. Company has reported net profit after tax of Rs 52.30 Crore in latest quarter.

The company’s top management includes Mr.Shyam S Bhartia, Ms.Sudha Pillai, Ms.Ameeta Chatterjee, Mr.Siraj Azmat Chaudhry, Mr.Pradeep Banerjee, Mr.Arun Seth, Mr.Arjun Shanker Bhartia, Mr.Priyavrat Bhartia, Mr.Anil Khubchandani, Mr.Rajesh Kumar Srivastava, Mr.Hari S Bhartia, Mr.Sushil Kumar Roongta. Company has Walker Chandiok & Co. LLP as its auditors. As on 31-03-2023, the company has a total of 16 Crore shares outstanding.

Investment Rationale
Bullish crossover of 20 & 50 day SMA, huge volume spikes, daily and weekly RSI is in positive terrain.

Promoter/FII Holdings
Promoters held 51.47 per cent stake in the company as of 31-Mar-2023, while FIIs owned 7.73 per cent, DIIs 5.97 per cent.