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Atul Q2: Exceptional show by performance chemicals

For global MNCs, the current crisis adds to the growing theme of sourcing chemicals from India as an alternative. Atul industries is a clear favourite in this scheme of things

October 26, 2020 / 02:06 PM IST
Atul Q2: Exceptional show by performance chemicals

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

Highlights - Atul benefits from margin gains across segments - Amal impacted by operating de-leverage - Amal considering major capex; Atul executing ~Rs500 crore capex - China supply chain shift opportunity presents market share gains - Current consolidation provides opportunity to accumulate Atul As popularly hypothesized that the economy may witness a K-shape recovery, we believe evidence for the same would start coming now with Q2 results. Strong operational result for integrated chemicals manufacturer Atul industries (CMP: Rs 6,117, Market Cap: Rs 18,142 crore) brings a case that it may...

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