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Neutral Deepak Nitrite; target of Rs 1887: Motilal Oswal

Motilal Oswal recommended Neutral rating on Deepak Nitrite with a target price of Rs 1887 in its research report dated August 03, 2022.

August 05, 2022 / 10:06 PM IST
 
 
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Motilal Oswal's research report on Deepak Nitrite


DN reported a miss on our estimates. EBITDA came in 12% lower than our estimate at INR3.6b. EBITDA margin, at 17.3%, was also below our estimate of 20.5% – the lowest since 3QFY19. The miss was largely led by the Advanced Intermediates segment. EBIT margin declined to 18% in the Advanced Intermediates segment.


Outlook


we maintain our Neutral rating. Valuing the stock at 22x FY24E EPS, we arrive at our TP of INR1,887.


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Deepak Nitrite - 040822 - moti

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first published: Aug 5, 2022 10:04 pm
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