Whalesbook
Ab yeh profit margin waale pressure ki baat karte hain. Company ka kehna hai ki yeh jo raw material ka kharcha badh gaya hai na, usko woh customers par hi pass on karne ki koshish karenge. Target rakha hai ki sustainable EBITDAM margins 26% se 27% ke beech rahein. Yeh sab isliye kyunki is quarter mein revenue toh badha, par input costs ne sab gadbad kar di.
Aur haan, jo naye products launch hone wale the na, jaise MEHQ aur guaiacol, woh plant stability mein thoda late ho rahe hain. So, FY27 ke second half (H2FY27) tak hi unka bada contribution expect kar sakte hain. Abhi filhaal jo existing products hain, un par hi zyada focus karna padega.
Aage chal kar FY27 mein, woh 4MAP, TAA, aur PTAP jaise naye products ke liye manufacturing facilities start karne wale hain. Yeh sab important hai company ko diversify karne ke liye. Yeh specialty chemicals wala market na, kaafi competitive hai. Jaise Aarti Industries aur Alkyl Amines Chemicals bhi isi race mein hain.
Abhi risks bhi hain. Agar competitors ne temporary cost increase ko absorb kar liya aur Vinati Organics nahi kar paaya, toh price-sensitive customers kho sakte hain. Naye products ke launch mein delay hone se abhi growth sirf purane products par hi depend karegi. Aur haan, agar inke specialized products ki demand kam ho gayi ya koi naya technology aa gaya, toh bhi dikkat ho sakti hai. Chemical manufacturing mein regulatory aur environmental issues bhi ek challenge rehta hai.
Brokerage reports ki baat karein toh Prabhudas Lilladher ne is stock par 'Accumulate' rating rakhi hai aur target price set kiya hai ₹1,475. Yeh FY28 ke earnings aur company ke growth plans ko dekh kar diya gaya hai.