Buy Gujarat Fluorochemicals, target price Rs 4270: ICICI Securities
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AgenciesPromoters held 66.08 per cent stake in the company as of 30-Sep-2022, while FIIs owned 4.1 per cent, DIIs 3.9 per cent.
ICICI Securities has buy call on Gujarat Fluorochemicals with a target price of Rs 4270. The current market price of Gujarat Fluorochemicals is Rs 3637.15. Gujarat Fluorochemicals Ltd., incorporated in the year 2018, is a Mid Cap company (having a market cap of Rs 39941.46 Crore) operating in Chemicals sector.
Gujarat Fluorochemicals Ltd. key Products/Revenue Segments include Other Products, Gases Refrigerant, Caustic Soda, Other Operating Revenue, Export Incentives, Scrap for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 1485.59 Crore, up 9.22 % from last quarter Total Income of Rs 1360.17 Crore and up 47.07 % from last year same quarter Total Income of Rs 1010.12 Crore. Company reported net profit after tax of Rs 357.23 Crore in latest quarter.
Investment Rationale
The brokerage maintains EPS estimates and will track the performance of new fluoropolymers. Its target price remains unchanged at Rs4,270 (30x FY24E EPS). Maintain BUY.
Promoter/FII Holdings
Promoters held 66.08 per cent stake in the company as of 30-Sep-2022, while FIIs owned 4.1 per cent, DIIs 3.9 per cent.
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