Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Associate Partners:

  • Kotak Mutual Fund
  • Pharmeasy
  • Indiabulls
  • SBI

Presenting Partner

Life Insurance Corporation of India

Moneycontrol

Budget 2022

Technology Partner

Dell Technologies

Associate Partners

Kotak Mutual Fund
Pharmeasy
Indiabulls
SBI
UPCOMING EVENT:Are you 45+? Planning for retirement? We have just the right webinar for you - Planning for Retirement with Life Insurance on 27-Jan, 3pm. Register now!

Accumulate Gujarat Fluorochemicals; target of Rs 2346: KR Choksey

KR Choksey recommended accumulate rating on Gujarat Fluorochemicals with a target price of Rs 2346 in its research report dated November 12, 2021.

November 15, 2021 / 03:17 PM IST
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

KR Choksey's research report on Gujarat Fluorochemicals


In Q2FY22, GFL reported revenue of INR 9,640 Mn showing a robust growth of 56.16% on YoY basis and 5.71% on QoQ basis. Such strong performance was mainly driven by higher realisations and volume growth. On operational front EBITDA in Q2FY22 stood at INR 2,955 Mn which was up by 88.22% YoY and 15.84% QoQ. EBITDA margins increased by 522bps YoY, and 268 bps QoQ to 30.65% in Q2FY22. Margins improved on account of lower raw material costs and power & fuel costs. Net Profit in 2QFY22 came at INR 2,049 Mn (+159.04% YoY / +35.52% QoQ), with NPM at 21.26% (+844 bps YoY / +467 bps QoQ). Lower finance costs helped the company deliver better margins during the quarter. EPS during the quarter came at 18.66 against 7.21 in the same quarter last year. Cash Flow from Operations doubled to INR 4,678 in 1HY22 against INR 2,184 in 1HY21.



Outlook


We continue with our ‘ACCUMULATE’ recommendation and apply P/E multiple of 36x to its FY24E earnings, which yields an increased revised target price of INR 2,346 per share (old target price – INR 2,201).

For all recommendations report, click here

Close

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Nov 15, 2021 03:17 pm
Sections
ISO 27001 - BSI Assurance Mark