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Buy Rallis India; target of Rs 350: Anand Rathi

Anand Rathi is bullish on Rallis India has recommended buy rating on the stock with a target price of Rs 350 in its research report dated December 29, 2021.

December 30, 2021 / 11:25 AM IST

"India’s specialty chemicals industry is a decadal growth opportunity and it is still not too late to participate in the value creation process. We prefer CRAMS/CSM players Navin Fluorine (Navin) and PI Industries (PI) as they provide long-term earnings visibility. We also like UPL due to robust growth outlook and reducing debt concerns and SRF due to rising contribution from the chemicals business," JM Financial research report.

 
 
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Anand Rathi's research report on Rallis India


Considering its capex plans, focus on product launches, gaining export market-share, rising FCFs, expanding return ratios and strong balance sheet, Rallis India’s long-term performance leaves us upbeat. We expect its revenue/profit to clock 12%/22% CAGRs over FY22-24.


Outlook


We initiate coverage on it with a Buy, at a target price of Rs350. Key short-term monitorables are the increasing use of illegal cotton seed, rising input costs and softer demand for contract manufacturing.


For all recommendations report, click here

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first published: Dec 30, 2021 11:25 am
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