Moneycontrol
Last Updated : Sep 16, 2018 12:29 PM IST | Source: Moneycontrol.com

Buy Meghmani Organics: Equity99

We believe this stock can give superb returns in a long run so we are recommending a buy for long term investment prespective, says Sumit Bilgaiyan of Equity99.

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Sumit Bilgaiyan

Equity99

Meghmani Organics is amongst top 3 global Phthalocyanine based pigment players with 14 percent global market share. Its PAT increased 61 percent CAGR in last five years and EBITDA margin improves from 16.6 percent to 23.9 percent in last five years.

It has reported excellent results for Q1FY19, sales and EBITDA grew by 13.1 percent and 36 percent YoY, respectively, while PAT increased by 78 percent to Rs 77.1 crore.

At CMP, the stock is trading at PE of just 11.2x on its EPS (TTM) of Rs 7.95 per share. We believe this stock can give superb returns in a long run so we are recommending a buy for long term investment perspective.

Disclaimer: The author is Founder of Equity99. The views and investment tips expressed by investment expert on moneycontrol.com are his own and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.​
First Published on Sep 16, 2018 12:29 pm
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