NOCIL, incorporated in the year 1961, is a Small Cap company (having a market cap of Rs 4180.17 crore) operating in Chemicals sector.
NOCIL key Products/Revenue Segments include Other Operating Revenue, Duty Drawback and Scrap for the year ending 31-Mar-2021.
Financials
Investment Rationale
The brokerage said its BUY recommendation on NOCIL with a target price of Rs 310 is premised on (1) ramp-up in capacity utilisation; (2) robust volume growth on the back of pick-up in demand in the tyre industry; and (3) expansion of margin with focus on specialised rubber chemicals. Q4 EBITDA/PAT were 135/132% above its estimates, owing to 23% higher revenue, lower-than-expected raw material cost courtesy inventory gains, and lower-than-anticipated opex, but were offset by higher-than-expected depreciation and tax outgo.
Promoter/FII Holdings
Promoters held 33.85 per cent stake in the company as of 31-Mar-2022, while FIIs owned 2.54 per cent, DIIs 4.27 per cent.
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