*VenkyS (India) Ltd.* | *CMP* Rs. 1737 | *M Cap* Rs. 2447 Cr | *52 W H/L* 1845/975
(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 941.4 Cr (1% QoQ, 42.4% YoY) vs QoQ Rs. 931.7 Cr, YoY Rs. 660.9 Cr
EBIDTA came at Rs. 111.2 Cr (-24.8% QoQ, -194.6% YoY) vs QoQ Rs. 147.9 Cr, YoY Rs. -117.5 Cr
EBITDA Margin came at 11.8% vs QoQ 15.9%, YoY -17.8%
Adj. PAT came at Rs. 77.9 Cr vs QoQ Rs. 106.5 Cr, YoY Rs. -96.7 Cr
Quarter EPS is Rs. 55.3
Share is trading at P/E of 9.1x TTM EPS
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(Nirmal Bang Retail Research)
*Result is ok*
Revenue from Operations came at Rs. 941.4 Cr (1% QoQ, 42.4% YoY) vs QoQ Rs. 931.7 Cr, YoY Rs. 660.9 Cr
EBIDTA came at Rs. 111.2 Cr (-24.8% QoQ, -194.6% YoY) vs QoQ Rs. 147.9 Cr, YoY Rs. -117.5 Cr
EBITDA Margin came at 11.8% vs QoQ 15.9%, YoY -17.8%
Adj. PAT came at Rs. 77.9 Cr vs QoQ Rs. 106.5 Cr, YoY Rs. -96.7 Cr
Quarter EPS is Rs. 55.3
Share is trading at P/E of 9.1x TTM EPS
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*Navin Fluorine – Q4FY21 Concall Update – Nirmal Bang Sec.*
*Outlook – Positive*
_High value business i.e. Specialty chemicals and CRAMS would continue to drive the growth_
The stock is trading at 57x FY22E consensus earnings
*_General_*
• Gross margins were impacted due to (a) lower refrigerant gases demand for domestic R22 won non emissive side, (b) exports were higher which is a low margin business (c) product mix in speciality chemicals (d) supply chain issue for one of the specific products exported to US (e) lower demand for one of the agrochemical products ; There was not much impact due to uptick in raw material prices – these are temporary reasons and should normalise going forward
• High Performance Product (HPP) – there is a delay of about a quarter
*_Specialty Business_* (Q4 Rev Rs 131 cr; +26% yoy)
• Business continues to show strong growth driven by mix of new customers, new products and market share gain
• Robust new product pipeline
• Primarily new project opportunities are from the US and the Europe, however the company is looking at other geographies as well
• Navin has recently inducted new customer on specialty chemicals from Korea
• * Guidance – Mid teens growth for FY22*
*_CRAMS Business_* (Q4 Rev Rs 76 cr; +40% yoy)
• Strong performance driven by new customer acquisition and repeat business from existing customers
• Good project flows from new as well as existing innovators
• Cost improvement initiatives being undertaken for repeat projects in FY’22
• The management expects sustainable performance going forward
*_Inorganic Fluorides_* (Q4 Rev Rs 59 cr; +16% yoy)
• Performance improved QoQ
• Widening of end user segments in few products
• New international customer acquisitions to drive future growth
• The company is witnessing recovery across stainless steel and glass industry which are main customer segment
*_Refrigerant Business_* (Q4 Rev Rs 58 cr; +4% yoy)
• Trade and service sectors showed demand uptick in Q4
• International sales have shown good traction during the quarter
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*Learning and Earning Group*
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*Knowledge Enhancement group*
*Outlook – Positive*
_High value business i.e. Specialty chemicals and CRAMS would continue to drive the growth_
The stock is trading at 57x FY22E consensus earnings
*_General_*
• Gross margins were impacted due to (a) lower refrigerant gases demand for domestic R22 won non emissive side, (b) exports were higher which is a low margin business (c) product mix in speciality chemicals (d) supply chain issue for one of the specific products exported to US (e) lower demand for one of the agrochemical products ; There was not much impact due to uptick in raw material prices – these are temporary reasons and should normalise going forward
• High Performance Product (HPP) – there is a delay of about a quarter
*_Specialty Business_* (Q4 Rev Rs 131 cr; +26% yoy)
• Business continues to show strong growth driven by mix of new customers, new products and market share gain
• Robust new product pipeline
• Primarily new project opportunities are from the US and the Europe, however the company is looking at other geographies as well
• Navin has recently inducted new customer on specialty chemicals from Korea
• * Guidance – Mid teens growth for FY22*
*_CRAMS Business_* (Q4 Rev Rs 76 cr; +40% yoy)
• Strong performance driven by new customer acquisition and repeat business from existing customers
• Good project flows from new as well as existing innovators
• Cost improvement initiatives being undertaken for repeat projects in FY’22
• The management expects sustainable performance going forward
*_Inorganic Fluorides_* (Q4 Rev Rs 59 cr; +16% yoy)
• Performance improved QoQ
• Widening of end user segments in few products
• New international customer acquisitions to drive future growth
• The company is witnessing recovery across stainless steel and glass industry which are main customer segment
*_Refrigerant Business_* (Q4 Rev Rs 58 cr; +4% yoy)
• Trade and service sectors showed demand uptick in Q4
• International sales have shown good traction during the quarter
https://t.me/marketswizard
*Learning and Earning Group*
https://t.me/BooksMakeIndiaRead
*Knowledge Enhancement group*
Telegram
Market Wizard
FREE FINANCIAL EDUCATIONAL CHANNEL
Disclaimer : We are not SEBI Registered. Please consult your financial advisor before investing.
All the posts appearing in the channel are only for educational and informational purposes.
ALL RIGHTS RESERVED!!!
Disclaimer : We are not SEBI Registered. Please consult your financial advisor before investing.
All the posts appearing in the channel are only for educational and informational purposes.
ALL RIGHTS RESERVED!!!
Super Duper Aggressive Mid Term Techno Funda Call
Buy PDSMFL (PDS MULTINATIONAL FASHION) at CMP of 708 - 712 and dips till 680
Sl 660
Targets:- 720 - 724 - 728 - 733 - 738 - 745 - 752 - 760 - 768 - 775+
Above 775 we can see 810 - 850 - 880 - 930+
Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing.
Nse - 5264
Bse - 538730
Buy PDSMFL (PDS MULTINATIONAL FASHION) at CMP of 708 - 712 and dips till 680
Sl 660
Targets:- 720 - 724 - 728 - 733 - 738 - 745 - 752 - 760 - 768 - 775+
Above 775 we can see 810 - 850 - 880 - 930+
Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing.
Nse - 5264
Bse - 538730
Short Term Super Bumper Call
Buy Jaysyn (BSE - 506910) at CMP of 68 - 69.5 and dips till 62
Sl 60
Targets:- 71 - 72 - 73 - 74 - 75 - 76 +
Above 76 we can see 80 - 84 - 88 +
Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing.
Buy Jaysyn (BSE - 506910) at CMP of 68 - 69.5 and dips till 62
Sl 60
Targets:- 71 - 72 - 73 - 74 - 75 - 76 +
Above 76 we can see 80 - 84 - 88 +
Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before investing.
Market Wizard
Short Term Super Bumper Call Buy Jaysyn (BSE - 506910) at CMP of 68 - 69.5 and dips till 62 Sl 60 Targets:- 71 - 72 - 73 - 74 - 75 - 76 + Above 76 we can see 80 - 84 - 88 + Disclaimer:- I am not SEBI Registered. Please consult your financial advisor before…
Jaysyn once above 72 - 73, Upper Circuit levels will surely come