Buy Alkyl Amines Chemicals; target of Rs 287: KRChoksey
KRChoksey is bullish on Alkyl Amines Chemicals has recommended buy rating on the stock with a target price of Rs 762 in its research report dated 27 November 2017.
January 08, 2018 / 01:57 PM IST
KR Choksey's research report on Alkyl Amines Chemicals
Net Income for Q2FY18 came in at INR 1381 mn as against INR 1241 mn for Q2FY17 and INR 1474 mn for Q1FY18; which grew by 11.3% y-o-y but de-grew by 6.3% q-o-q. EBIDTA during the quarter stood at INR 241 mn; up by 20.7% y-o-y and 3.8% q-o-q, while EBITDA margins surged to 17.5%. Operating margins increased by 135 bps y-o-y and 170 bps q-o-q assisted by margin lucrative product mix.
We maintain our “BUY” rating on the stock with target price of INR 762 assigning a P/E of 15x on FY20E EPS of 50.8 resulting into an upside of 31.5%.
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