Whalesbook
Ab dekho, yeh jo Deepak Nitrite ka share hai na, Q4 results ke baad brokers ke beech mein full-on charcha chal rahi hai. Emkay Global ne toh stock ko 'Buy' pe upgrade kar diya hai, pehle se ₹1800 wale target ko badha kar ₹2000 kar diya hai. Unke hisaab se potential 15.2% ka upside mil sakta hai. Unko lagta hai adjusted EBITDA mein acchi khasi badhotri hui hai, jo expectations se bhi upar hai.
Emkay ka kehna hai ki AI segment recover ho raha hai aur domestic demand export ki kami ko poora kar degi. Advanced intermediates business mein bhi margin improve hone ki umeed hai, aur phenolics business toh phele se hi mazboot hai. Phenol-2 ka capex bhi track par hai, jisse FY2029 se revenue aana shuru ho jayega. Emkay ne FY27 aur FY28 ke liye EBITDA forecasts ko bhi 12% aur 6% badhaya hai, kyunki unko lagta hai pricing aur volume dono badhenge.
Lekin, Motilal Oswal Financial Services bilkul alag opinion de raha hai. Unhone 'Sell' rating toh wahi rakhi hai, par target thoda badha kar ₹1130 se ₹1450 kar diya hai. Woh maan rahe hain ki operations stable hain, lekin intermediates business mein margin par dabav bana rahega. Unka forecast hai ki revenue 11% CAGR se aur profit after tax 23% CAGR se FY26 se FY28 tak badhega, par unko lagta hai ki current valuations itne achhe nahi hain is situation mein.
Ab company ke khud ke numbers ki baat karein toh Q4FY26 mein consolidated net profit ₹219.7 crore raha, jo pichhle saal se 8.56% zyada hai. Revenue thoda kam ho kar ₹2,120.3 crore raha, lekin EBITDA 18.8% badh kar ₹376 crore ho gaya, jisse margins 17.7% pe aa gaye. Board ne ₹7.50 per share ka dividend bhi recommend kiya hai, bas shareholders ki approval chahiye.