KR Choksey's research report on Supreme Petrochemicals
For Q3FY22, Supreme Petrochem’s (SPL) revenue increased by 39.4%/8.8% on YoY and QoQ basis to INR 12,960 mn. EBITDA increased by 27.4% QoQ but declined by 6.3% YoY to INR 2,242 mn. EBITDA margin contracted by 844 bps YoY and grew by 252 bps QoQ to 17.3%. Net Profit stood at INR 1,646 mn, down by 4.1% YoY and grew by 29.5% QoQ. The margins declined by 575 bps YoY and grew by 203 bps QoQ.
Outlook
We value the stock at 7.97x on its FY24E EPS of INR 102.1/share, which yields a target price of INR 814/share (unchanged), an upside of 17% over the CMP. Accordingly, we maintain our “BUY” rating on the shares of Supreme Petrochem Ltd.
More Info
At 17:30 Supreme Petrochem was quoting at Rs 725.50, up Rs 27.10, or 3.88 percent.
It has touched an intraday high of Rs 726.50 and an intraday low of Rs 690.20.
It was trading with volumes of 10,664 shares, compared to its thirty day average of 6,718 shares, an increase of 58.75 percent.
In the previous trading session, the share closed up 1.15 percent or Rs 7.95 at Rs 698.40.
The share touched its 52-week high Rs 820.00 and 52-week low Rs 349.00 on 26 May, 2021 and 01 February, 2021, respectively.
Currently, it is trading 11.46 percent below its 52-week high and 108.04 percent above its 52-week low.
Market capitalisation stands at Rs 6,821.20 crore. For all recommendations report, click here
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