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NOCIL Q2: ‘China plus’ sentiment aiding volume pick-up

Encouraged by the volume pick-up in Q2, NOCIL is confident of posting sales volume numbers in FY21 similar to FY20

November 12, 2020 / 10:36 AM IST
NOCIL Q2: ‘China plus’ sentiment aiding volume pick-up

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 - Quarterly performance largely backed by volume growth - Prospects for price hikes in Q4 - Medium-term triggers – ‘China plus’ and protectionist measures for tyre industry - Valuations not inexpensive; but improved outlook makes us constructive NOCIL (CMP: Rs 133, Market Cap: Rs 2,223 crore), the largest rubber chemicals producer in India, has reported a strong sequential improvement in a very competitive environment, mainly led by volume growth. The company merits investor attention due to its possibility of becoming a strong import substitution play in light of...

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