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You are here : IndiaNotes >> Research & Analysis >> Companies >> Phillips Carbon Black Ltd. >> Research

Phillips Carbon Black Q1FY18: Firstcall are overweight for medium to long term investment

Firstcall India Equity | 14 Aug, 2017  | Follow Author | Add to my Favourites 
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Phillips Carbon Black Limited manufactures and sells carbon black in India and internationally.

  • Revenue for the quarter increased by 33.27% at Rs. 6373.20 mn as against Rs. 4782.20 mn, when compared with the prior year period.

  • During Q1 FY18, EBIDTA is Rs. 940.60 mn as against Rs. 544.20 mn in the corresponding period of the previous year.

  • During Q1 FY18, Profit before tax increased by 150.47% to Rs. 663.00 mn from Rs.264.70 mn in Q1 FY17.

  • During Q1 FY18, net profit stood at Rs. 481.60 mn against Rs. 95.00 mn in the corresponding quarter ending of previous year, an increase of 406.95%.

  • EPS of the company stood at Rs. 13.97 a share during the quarter, as against Rs. 2.76 per share over previous year period.

  • Net Sales and Operating Profit of the company are expected to grow at a CAGR of 7% and 42% over 2016 to 2019E, respectively.


OUTLOOK AND CONCLUSION


At the current market price of Rs. 611.15, the stock P/E ratio is at 13.94 x FY18E and 8.76 x F Y19E respectively.Earning per share (EPS) of the company for the earnings for FY18E and FY19E is seen at Rs. 43.84 and Rs. 69.79 respectively.Net Sales and Operating Profit of the company is expected to grow at a CAGR of 7% and 42% over 2016 to 2019E, respectively.On the basis of EV/EBITDA, the stock trades at 6.83 x for F Y18E and 4.88 x for F Y19E.Price to Book Value of the stock is expected to be at 1.79 x and 1.48 x for F Y18E and F Y19E respectively.
Hence, we say that, we are Overweight in this particular scrip for Medium to Long term investment.


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About Firstcall India Equity

Firstcall India Equity of Firstcall India Equity Advisors Pvt. Limited (FIEA), is a leading financial services provider in India and a SEBI Registered Category-I Merchant Banker. FIEA is a culmination of a credible Equity Research Capabilities, Long Standing Relationship with leading FIIs, DFIs, MFs, Overseas Pension Funds etc. The company’s research caters to the needs of the largest news wire and media houses of the world namely Reuters, Thomson, Capital IQ, Themarkets.com, Emerging Markets Euro money Publications-UK. The Company is among the major players in the Debt and Equity markets.


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Disclaimer: The author has taken due care and caution to compile and analyse the data. The opinions expressed above are only the views of the author, and not a recommendation to buy or sell. Neither the author nor IndiaNotes.com accept any liability whatsoever arising from the use of any of the above contents.




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