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Feb 14, 2017, 06.05 PM | Source: Moneycontrol.com

Buy Chambal Fertilisers; target of Rs 100: HDFC Securities

HDFC Securities is bullish on Chambal Fertilisers has recommended buy rating on the stock with a target price of Rs 100 in its research report dated February 10, 2017.

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Buy Chambal Fertilisers; target of Rs 100: HDFC Securities

HDFC Securities is bullish on Chambal Fertilisers has recommended buy rating on the stock with a target price of Rs 100 in its research report dated February 10, 2017.

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HDFC Securities' research report on Chambal Fertilisers

Chambal Fertilisers (CHMB) reported revenues of Rs 24.3bn (-14% YoY) in 3QFY17, mainly led by lower realisations from the fertiliser segment. Gross margins stood at 31.2% (-435 bps), owing to a maintenance shutdown of 31 days in one urea unit, and muted profits from the shipping segment.

Outlook

CHMB is putting up a new urea facility of 1.3mTPA (capex $ 0.9bn, on-stream by Jan-19). RoE from this will be in the 12-20% range, based on the gas price and IPP of urea. Maintain BUY with a TP of Rs 100/sh (10x 12 months rolling fwd EPS).

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Disclaimer:
The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click here

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Buy Chambal Fertilisers; target of Rs 100: HDFC Securities

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