Prabhudas Lilladher ne Clean Science and Technology ke liye 'Accumulate' rating di hai aur target price **₹827** rakha hai. Company ke naye product launches aur HALS production expansion se earnings mein dum aane ki umeed hai.
Clean Science mein turnaround ki ummeed
Prabhudas Lilladher ne Clean Science and Technology ko lekar apna outlook badla hai. Purane products mein price pressure aur expansion mein deri ke baad, ab brokerage ko lag raha hai ki company ki growth phir se track par aayegi. Inka projection hai ki FY26 se FY29 ke beech Sales, EBITDA, aur Profit after tax mein 23%, 22%, aur 27% ki CAGR se growth ho sakti hai.
HALS production banega growth ka driver
Is recovery ke peeche sabse bada reason hai Hindered Amine Light Stabilizers (HALS) ki production ko scale up karna. Company ne Kemin ke saath 5-saal ka supply agreement kiya hai aur Geneus Chem ke saath partnership se NOR-HALS technology ka access bhi mil gaya hai. Ye sab cheezein company ka product portfolio aur revenue potential badhayengi.
Margin aur expansion par focus
Management ab raw materials jaise hydroquinone aur catechol ki backward integration par zor de raha hai, taaki profit margins ko bacha sake. Saath hi, sabki nazar Performance Chemical 2 facility par hai, jo FY27 ke second half mein shuru hone ki planning hai. Ye long-term growth ke liye bada milestone hoga.
Risks ka dhyan rakhein
Brokerage ne warning bhi di hai ki execution risk abhi bhi bana hua hai, kyunki naye chemical processes complex hote hain. Iske alawa, global raw material prices aur competitive intensity se margins par asar pad sakta hai. Filhal, valuation FY28 ke estimated earnings ke hisaab se 20 guna par trade kar rahi hai.