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Atul has target of Rs 145: Sushil Finance
Sushil Finance in its report dated Jan 13, 2010 says that net profit Atul Ltd increased by 36.6% YoY to Rs 400.8 Mn. At the CMP of Rs 109, the stock is available at a very attractive valuation of 3.8x its FY11E EPS of Rs 29, and has target of Rs 145.
Sushil Finance in its report dated January 13, 2010 says that net profit Atul Ltd increased by 36.6% YoY to Rs 400.8 million. At the CMP of Rs 109, the stock is available at a very attractive valuation of 3.8x its FY11E EPS of Rs 29, and has target of Rs 145. The stock closed at Rs 107 on January 14, 2010.
"Atul Ltd has good track record of paying regular dividend in the past and total dividend of 30% had been paid during FY09, which works out to 3.0% yield at current price. During FY09, its consolidated revenues increased by 17.2% YoY to Rs 12,239 million. The revenues from colors division grew by 1.3% YoY to Rs 3,197 million, while speciality & other chemicals division's revenues grew by 21.1% YoY to Rs 9516.8 million. Its margins increased by bps to 9.0% & its EBITDA increased by 48.2% YoY to Rs 1102.3 million. Its net profit increased by 36.6% YoY Rs 400.8 million. At the CMP of Rs 109, the stock is available at a very attractive valuation of 3.8x its FY11E EPS of Rs 29, and has target of Rs 145," says Sushil Finance report.
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