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    Hold Vinati Organics, target price Rs 2320: ICICI Direct

    Synopsis

    Vinati Organics Ltd., incorporated in the year 1989, is a Mid Cap company (having a market cap of Rs 20396.07 Crore) operating in Chemicals sector.<

    buyAgencies
    Promoters held 74.06 per cent stake in the company as of 30-Jun-2022, while FIIs owned 4.66 per cent, DIIs 8.12 per cent.
    ICICI Direct has hold call on Vinati Organics with a target price of Rs 2320. The current market price of Vinati Organics is Rs 1986.4. Time period given by analyst is one year when Vinati Organics Ltd. price can reach defined target.

    Vinati Organics Ltd., incorporated in the year 1989, is a Mid Cap company (having a market cap of Rs 20396.07 Crore) operating in Chemicals sector.

    Vinati Organics Ltd. key Products/Revenue Segments include Organic/Inorganic Heavy Chemicals, Scrap and Export Incentives for the year ending 31-Mar-2022.


    Financials
    For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 525.01 Crore, up 4.75 % from last quarter Total Income of Rs 501.22 Crore and up 29.97 % from last year same quarter Total Income of Rs 403.95 Crore. Company reported net profit after tax of Rs 101.19 Crore in latest quarter.

    Investment Rationale
    Higher oil prices and thereby better demand outlook from ATBS are expected to have led growth for the last quarter. Further, better growth from butyl phenols can likely aid performance further. The revenue is expected to grow 39% YoY to | 520 crore. OPM is likely to remain at 27.4% (+38 bps YoY) translating into EBITDA at | 142.4 crore (up 41% YoY). PAT is expected to remain at | 107.9 crore (up 32.7% YoY). Key Monitorables : Progress of Butyl phenol plant utilisation and IBB business performance

    Promoter/FII Holdings
    Promoters held 74.06 per cent stake in the company as of 30-Jun-2022, while FIIs owned 4.66 per cent, DIIs 8.12 per cent.



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    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
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