Book profits in Sudarshan Chemical Industries: Mayuresh Joshi

Mayuresh Joshi of Angel Broking told CNBC-TV18, "Sudarshan Chemical in the segment that it is in, dyes and pigments, the addressable global size specifically in terms of the organic pigment market is pretty large. Again the kind of strategies that they have adopted over the past few years, they had decided to go global around five to six years back and those strategic initiatives are paying off. So, in terms of financials as well, in terms of the distribution network, I think you have seen a huge compound growth happening in terms of topline and bottomline.”

‘At the current juncture my own sense is that with a sales CAGR at 15 percent that you have probably seen in the last four years and EBIT CAGR of 28 percent odd, that percentage terms returns probably over the next two years on the high base that they are working out of seems quite unlikely. So, in that sense itself I think if the view is more than two years, one can actually book a little bit of profits at the current level and probably look at some stocks maybe in the banking or the consumer discretionary space," he added.