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Last Updated : Jun 15, 2020 10:36 AM IST | Source: Moneycontrol.com

Buy Filatex India; target of Rs 53: Khambatta Securities

Khambatta Securities is bullish on Filatex India has recommended buy rating on the stock with a target price of Rs 53 in its research report dated June 10, 2020.

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Khambatta Securities' research report on Filatex India


Filatex India Limited (FIL) reported a 3.2% y-o-y decline in operating revenue to Rs 2,782 crore in FY20. Last quarter revenue was partially affected due to a decline in product pricing in line with lower raw material prices (driven by the fall in crude prices), and production and sales loss due to the COVID-linked lockdown. Sales volume increased 14.8% y-o-y to 3.24 lakh MT. On the positive side though the production loss shielded the company from inventory buildup and loss in inventory due to the price contraction.



Outlook


we value FIL at Rs 53, representing a 92% upside from current levels and informing a BUY rating.




For all recommendations report, click here

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First Published on Jun 15, 2020 10:36 am
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