Bhansali Engineering Q3: Global shortages may spell better margins in short term
In the medium term, Bhansali's traction towards high-grade applications and greenfield expansion is crucial for superior and sustainable margin profile
- 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 - Strong set of results backed by better product prices - Benefits from global supply chain disruptions & ABS shortage - Operating margins likely to moderate in the medium term - Traction in greenfield capex plan crucial for re-rating Bhansali Engineering Polymers Ltd (BEPL, Market Cap: Rs 2,774 crore, CMP: Rs 167), a key player in the duopolistic market of ABS (acrylonitrile butadiene styrene) in India, has posted impressive quarterly results. The performance has been aided by superior product prices as well as improved outlook for auto/appliances...
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