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Buy Gujarat Narmada Valley Fertilizers and Chemicals; target of Rs 700: Hem Securities

Hem Securities is bullish on Gujarat Narmada Valley Fertilizers and Chemicals has recommended buy rating on the stock with a target price of Rs 700 in its research report dated July 04, 2022.

July 05, 2022 / 11:53 AM IST
 
 
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Hem Securities report on Gujarat Narmada Valley Fertilizers and Chemicals


Gujarat Narmada Valley Fertilizers & Chemicals (GNFC) standalone net profit rose 108.24% to Rs 643.26 crore on 59.93% jump in net sales to Rs 2771.71 crore in Q4 March 2022 over Q4 March 2021. During the quarter, total expenses rose 47.18% to Rs 1,961.01 crore. Cost of material consumed soared 59.38% to Rs 1,177.74 crore while power, fuel and other utilities expense jumped 33.28% to Rs 315.57 crore. Fertilizer segment turned positive mainly due to subsidy breather in case of ANP (mix fertilizer), settlement of freight and subsidy rates of Urea. For the full year, net profit jumped 147.20% to Rs 1703.75 crore on 68.51% increase in net sales to Rs 8642.29 crore in the year ended March 2022 over the year ended March 2021.


Outlook


Hence, on an overall basis, the Company looks interesting and investors should evaluate the opportunity for investing in the stock at current levels.


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At 11:37 hrs Gujarat Narmada Valley Fertilizers & Chemicals was quoting at Rs 608.10, up Rs 9.80, or 1.64 percent.

It has touched an intraday high of Rs 610.00 and an intraday low of Rs 598.70.

It was trading with volumes of 163,489 shares, compared to its thirty day average of 120,902 shares, an increase of 35.22 percent.

In the previous trading session, the share closed up 2.92 percent or Rs 17.00 at Rs 598.30.

The share touched its 52-week high Rs 912.00 and 52-week low Rs 313.05 on 05 April, 2022 and 24 August, 2021, respectively.

Currently, it is trading 33.32 percent below its 52-week high and 94.25 percent above its 52-week low.

Market capitalisation stands at Rs 9,451.02 crore.

For all recommendations report, click here


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Gujarat Narmada Valley Fertilizers & Chemicals - 050722 - hem

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