Moneycontrol
Get App
Last Updated : Nov 20, 2018 04:33 PM IST | Source: Moneycontrol.com

Buy Sanghi Industries; target of Rs 86: Nalanda Securities

Nalanda Securities is bullish on Sanghi Industries has recommended buy rating on the stock with a target price of Rs 86 in its research report dated November 19, 2018.

Broker Research @moneycontrolcom
 
 
live
  • bselive
  • nselive
Volume
Todays L/H
More

Nalanda Securities' research report on Sanghi Industries


The company posted a revenue of INR 244cr for the quarter, up by 18.7% as a sharp increase in volumes offset a dip in realization (-8.4% YoY to INR 3938/ton). Total sales volume for the quarter stood at 0.62mt up by ~30% YoY (from 0.48mt), driven by the demand growth in its key markets which stood at 10-13%. There a marginal loss in volume due to the reduced availability of coastal shipping to Mumbai in the monsoon season.


Outlook


However, the continued short-term issues prompts us to reduce our target price to INR 86 giving an upside of 37%. (i.e. valuing the stock at FY20E EV/Ton of $80/Ton, 9x FY20E EV/EBITDA)


For all recommendations report, click here


Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.



Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.
First Published on Nov 20, 2018 04:33 pm
Sections
Follow us on