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You are here : IndiaNotes >> Research & Analysis >> Companies >> Thirumalai Chemicals Ltd. >> Research

Thirumalai Chemicals Q3FY17: Fundamental Analysis - Firstcall India Equity

Firstcall India Equity | 31 Jan, 2017  | Follow Author | Add to my Favourites 
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SYNOPSIS

  • Thirumalai Chemicals Ltd (TCL) is an India-based company, which is engaged in manufacturing of chemicals.
  • The consolidated turnover of Rs. 2485.10 million for Q3 FY17 as against Rs. 2047.70 million in Q3 FY16, an increase of21.36%.
  • During the 3rd quarter, consolidated net profit stood at Rs. 155.90 million as against Rs. 44.70 million in the corresponding quarter ending of previous year, higher by 248.77%.
  • During the 3rd quarter, consolidated EBIDTA stood at Rs. 400.80 million, up by 183.05%.
  • During Q3 FY17, consolidated PBT stood at Rs. 270.00 million as compared to Rs. 51.60 million in Q3 FY16.
  • EPS of the company stood at Rs. 15.22 during Q3 FY17 as compared to Rs. 4.37 in Q3 FY16.
  • For the nine months ended December 31, 2016, Net Sales stood at Rs. 7222.30 million from Rs. 7012.30 million in the corresponding period of last year.
  • Net Profit during 9M FY17 stood at Rs. 522.20 million as compared to Rs. 86.35 million for the nine months ended 31St December 2015, higher by 504.75%.
  • Operating profit of the company is expected to grow at a CAGR of 24% over 2015 to 2018E.


OUTLOOK AND CONCLUSION

  • At the current market price of Rs. 785.75, the stock P/E ratio is at 9.74 x FY17E and 7.64 x FY18E respectively.
  • Earning per share (EPS) of the company for the earnings for FY17E and FY18E is seen at Rs. 80.63 and Rs. 102.89 respectively.
  • Operating profit of the company is expected to grow at a CAGR of 24% over 2015 to 2018E.
  • On the basis of EV/EBITDA, the stock trades at 4.62 x for FY17E and 3.85 x for FY18E.
  • Price to Book Value of the stock is expected to be at 2.74 x and 2.05 x for FY17E and FY18E, 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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