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Aug 09, 2012, 05.59 PM IST
CRISIL Research has come out with its report on Omkar Speciality Chemicals. The research firm has maintained the fundamental grade of 3/5 to the company in its August 8, 2012 report.
CRISIL Research has come out with its report on Omkar Speciality Chemicals . The research firm has maintained the fundamental grade of 3/5 to the company in its August 8, 2012 report.
Omkar Speciality Chemicals Ltd’s (Omkar Speciality’s) Q1FY13 results, driven by increasing traction in the sale of new products, were slightly better than our expectations. Revenues grew 18% y-o-y to Rs 503 mn driven by y-o-y volume growth of 14%. EBITDA margins remained flat y-o-y at 19.3% but declined ~140 bps q-o-q because of higher raw material cost. In contrast, PAT grew at ~30% y-o-y to Rs 52 mn because of lower depreciation and higher other income. The exports during the quarter increased to Rs 199 mn from Rs 63 mn in Q1FY12 driven by the sale of new products. We remain positive on the growth prospects from the new products and maintain our fundamental grading of ‘3/5’.
Exports and new product sales gained traction
Urdhwa plant ready for production; expect ramp up in new product sales in 2H
Remain positive on growth prospects; maintain estimates and fair value of Rs 110
Disclaimer: This report (Report) has been commissioned by the Company/Investor/Exchange and prepared by CRISIL. The report is based on data publicly available or from sources considered reliable by CRISIL (Data). However, CRISIL does not guarantee the accuracy, adequacy or completeness of the Data / Report and is not responsible for any errors or omissions or for the results obtained from the use of Data / Report. Opinions expressed herein are CRISIL's opinions as on the date of this Report. The Data / Report are subject to change without any prior notice. Nothing in this Report constitutes investment, legal, accounting or tax advice or any solicitation, whatsoever. The Report is not a recommendation to buy / sell or hold any securities of the Company. CRISIL especially states that it has no financial liability, whatsoever, to the subscribers / users of this Report. This Report is for the personal information of the authorized recipient only. This Report should not be reproduced or redistributed or communicated directly or indirectly in any form to any other person or published or copied in whole or in part especially outside India, for any purpose.
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