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

Accumulate Atul over a period of 6-9 months

CD Equisearch Pvt Ltd | 14 Feb, 2018  | Follow Author | Add to my Favourites 
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The stock currently trades at 28.4xFY18e EPS of Rs  96.57 and 23.8x FY19e EPS  of  Rs  115.50.  Growth  in  Atul's  illustrious  crop protection  business (volume  growth:  22%  last  fiscal)  would  come  from  deepening  market penetration  in  Africa  and  South  America  and  increasing  its  brand  sales.


Ostensibly, turnaround in its colors business would also spur earnings next fiscal (estimated to grow by 19.6%). MCA project with Akzo Nobel would gradually start to unfold next fiscal. On balance we retain our accumulate rating on the stock with target of Rs 3234 (previous target: Rs 3033) based on 28x FY19e earnings (forward peg: 1.4; currently at ~28x FY18e earnings) over a period of 6-9 months.


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About CD Equisearch Pvt Ltd

CD Equisearch Pvt. Ltd. is one of the leading stock broking firms in the country with strong presence in the institutional and HNI broking segment. The company boasts of a strong Equity Research Division, and has offices in the several cities in the country including Mumbai, Kolkata, Delhi, Bangalore, Hyderabad and Chennai. The company serves a huge clientele of over 4,000 retail clients, High Net worth Individuals, Non Resident Indians, large Corporate Groups, and Financial Institutions. For more information, please visit www.cdequi.com.

 

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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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