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Ideas For Profit | NOCIL: End of capex cycle ups free cash flow prospects

NOCIL is expected to maintain dominant presence in the Indian market due to its technological leadership, client relationships and government’s focus on import substitution. Also, due to supply chain disruptions and reduced preference for China because of geopolitical reasons, it is emerging as a reliable rubber chemical supplier for tyre companies. Investors should note that company has no incremental plan for capex and will focus on increasing utilisation levels in the coming years. The end of this capex cycle should translate to free cash flow generation in the near-to-medium term.

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