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Buy Phillips Carbon Black; target of Rs 330: ICICI Direct

ICICI Direct is bullish on Phillips Carbon Black has recommended buy rating on the stock with a target price of Rs 330 in its research report dated July 27, 2021.

July 29, 2021 / 02:08 PM IST
 
 
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ICICI Direct's research report on Phillips Carbon Black


Phillips Carbon Black (PCBL) is the leading manufacturer of carbon black, which is essentially used as a reinforcing material for manufacturing tyres. PCBL also derives ~6% of sales volume from speciality carbon black, which fetches high margins and finds application in paints, plastics among others It realises healthy margin profile (15%+), has a capital efficient business model (RoCE>15%) with limited leverage on b/s (~0.3x debt: equity)


Outlook


We maintain our positive view and retain BUY rating on the stock We value PCBL at Rs 330 i.e. 12x P/E on FY23E EPS


For all recommendations report, click here

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first published: Jul 29, 2021 02:08 pm
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