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Ami Organics: Niche chemistry and a strong export tailwind

Overall valuations, seen in the context of high growth and elevated margins, make Ami Organics a stock worth looking at

March 29, 2022 / 09:51 AM IST
Ami Organics: Niche chemistry and a strong export tailwind


PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The stock of Ami Organics (CMP: Rs 863; Market Cap: Rs 3,143 crore) has corrected by 25 percent from its January 2022 high, partially reflecting elevated raw material pricing headwinds. The stock is now trading at 17x FY24e EV/EBITDA, which appears reasonable, compared to peers/sector. (image) On the other side, we also take note of the strong export trend in the chemicals industry. This suggests that irrespective of some of the macro headwinds, export-oriented chemical companies in India warrant attention...

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