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Buy Chemplast Sanmar Ltd For Target Rs. 535 - Yes Securities Weak sentiment in PVC pricing weighs on earnings Our View Chemplast Sanmar’s (CHEMPLAS) consolidated reported operating profit at Rs 974mn (-72% YoY; +25% QoQ), though marginally ahead of our expectation (YES : Rs 727mn), but was well below consensus estimates (Rs 1404mn). The Indian PVC market experienced a flood of inexpensive Chinese imports throughout most of FY23, resulting in a threefold YoY increase in imports, except for a brief respite from December 2022 to February 2023....
Buy Chemplast Sanmar Ltd For Target Rs. 535 - Yes Securities
Buy Chemplast Sanmar Ltd For Target Rs. 535 - Yes Securities
Source: Yes Securities Ltd
30/05/2023 3:27:09 PM
Buy Chemplast Sanmar Ltd For Target Rs. 530 - Yes Securities Margins weak in the quarter; improvement expected ahead Our View CHEMPLAS’ 3QFY23 Ebitda at Rs 781mn (-78% YoY; -21% QoQ), stood largely in-line with estimates. Weakness in PVC prices and spreads for most part of 3Q & 9MFY23, resulted in weaker profitability. ‘Zero-Covid’ policy in China, led to lower domestic consumption and higher exports of PVC from China leading to weaker prices. As we write, with China re-opening the PVC prices and spreads have started improvi...
Buy Chemplast Sanmar Ltd For Target Rs. 530 - Yes Securities
Buy Chemplast Sanmar Ltd For Target Rs. 530 - Yes Securities
Source: Yes Securities Ltd
23/02/2023 12:30:49 PM
Buy Chemplast Sanmar Ltd For Target Rs. 530 - Yes Securities Weak PVC price and higher energy cost weigh on earnings Our View CHEMPLAS’ 2QFY23 operating profit at Rs 984mn (-71.6% YoY; -49.3% QoQ), missed our & street estimates primarily on weaker than estimates PVC sales and margins. In addition higher than estimated operating costs, on account higher energy expense incrementally dented the operating margins during the quarter. Continued weakness in PVC prices and margins due to weaker Chinese demand, has resulted in 1HFY23 operating ...
Buy Chemplast Sanmar Ltd For Target Rs. 530 - Yes Securities
Buy Chemplast Sanmar Ltd For Target Rs. 530 - Yes Securities
Source: Yes Securities Ltd
31/12/2022 12:52:56 PM
Buy Chemplast Sanmar Ltd For Target Rs.615 - ICICI Securities Custom manufacturing springs a positive surprise Chemplast Sanmar’s (Chemplast) weak print for Q2FY23 was anticipated in view of falling PVC prices and inventory write-downs. Company said PVC prices continue to slide in Q3FY23 too, and recovery is likely only from Q4FY23. Underlying S-PVC contribution margin was at US$180/te, which means PVC price stability should help improve EBITDA. Surprise came from the less talked-about segment of custom manufacturing wherein the management has ...
Buy Chemplast Sanmar Ltd For Target Rs.615 - ICICI Securities
Buy Chemplast Sanmar Ltd For Target Rs.615 - ICICI Securities
Source: ICICI Securities
14/11/2022 12:58:12 PM
Update On Chemplast Sanmar Ltd By Motilal Oswal Integration at the forefront Key highlights from the plant visit Chemplast Sanmar, the largest manufacturer of Specialty Paste PVC resin India, via its wholly owned subsidiary - Chemplast Cuddalore Vinyls Ltd (CCVL) is the second largest manufacturer of Suspension PVC (S-PVC) in India. It has four manufacturing facilities (all in South India) with a high degree of backward integration. We visited the company’s Mettur facility, wherein it manufactures Refrigerant gases, Special...
Update On Chemplast Sanmar Ltd By Motilal Oswal
Update On Chemplast Sanmar Ltd By Motilal Oswal
Source: Motilal Oswal Financial Services Ltd
29/06/2022 11:31:17 AM
Buy Chemplast Sanmar Ltd For Target Rs.650 - Yes Securities Inventory liquidation impacts margins; demand robust   Our View CHEMPLAS’ 4QFY22 operating profit at Rs 3.46bn (+0.7% YoY; ‐1.8% QoQ), missed our estimates primarily on liquidation of higher priced inventory during the quarter, leading to margin compression. Extended monsoon and plant shutdown during 3Q, had led to accumulation of inventories, when incidentally prices were also at peak. Moving into 4Q, while demand recovered, realizations stood QoQ weaker. In additi...
Buy Chemplast Sanmar Ltd For Target Rs.650 - Yes Securities
Buy Chemplast Sanmar Ltd For Target Rs.650 - Yes Securities
Source: Yes Securities Ltd
16/05/2022 1:18:20 PM
Buy Chemplast Sanmar Ltd : Strong realizations trump weaker sales volumes - Yes Securities Chemplast Sanmar Ltd For Target Rs.700 Strong realizations trump weaker sales volumes Our View: CHEMPLAS’ 3QFY22 operating profits at Rs 3.5bn (+25% YoY; +2% QoQ), came in better than our expectations, riding on exceptional strength in PVC prices during the 3QFY22, even as sales volume were comparatively tepid. PVC price peaked at almost USD 1900/ton, in the month of Oct’21, before moderating towards the end of 3QFY22, however as VCM price had a sharper correction, PVC‐VC...
Buy Chemplast Sanmar Ltd : Strong realizations trump weaker sales volumes - Yes Securities
Buy Chemplast Sanmar Ltd : Strong realizations trump weaker sales volumes - Yes Securities
Source: Yes Securities Ltd
8/02/2022 9:21:28 AM
Quote on Chemplast Sanmar IPO by Mr. Jyoti Roy, Angel Broking Ltd Below is quote on Chemplast Sanmar IPO by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd    Chemplast Sanmar Ltd made a tepid listing on the bourses and closed below the issue price on the first day of trading.  This was mostly in line with our expectations given the lukewarm response to the IPO which was subscribed by just 2.17x. We had given a NEUTRAL rating to the IPO given our concerns due to high debt on books and negative n...
Quote on Chemplast Sanmar IPO by Mr. Jyoti Roy, Angel Broking Ltd
Quote on Chemplast Sanmar IPO by Mr. Jyoti Roy, Angel Broking Ltd
Source: Angel Broking Ltd
25/08/2021 1:12:51 PM
Quote on Chemplast Sanmar IPO by Mr. Jyoti Roy, Angel Broking Ltd Below is quote on Chemplast Sanmar IPO by Mr. Jyoti Roy - DVP- Equity Strategist, Angel Broking Ltd    The Rs. 3,850 crore Chemplast Sanmar Ltd IPO received a tepid response and was subscribed -2.17x. It was subscribed 2.29x in the retail category while qualified institutional buyers (QIBs) and the non-institutional investors (NIIs) categories were 2.7 times and 1.03 times respectively. We expect a flat opening for the stock which is expect...
Quote on Chemplast Sanmar IPO by Mr. Jyoti Roy, Angel Broking Ltd
Quote on Chemplast Sanmar IPO by Mr. Jyoti Roy, Angel Broking Ltd
Source: Angel Broking Ltd
23/08/2021 4:44:47 PM
IPO Note - Chemplast Sanmar Ltd By Choice Broking Salient features of the IPO: * South India based specialty chemical firm Chemplast Sanmar Ltd. (CSL), is coming up with an IPO to raise Rs. 3,850cr, which opens on 10th Aug. and closes on 12th Aug. 2021. The price band is Rs. 530 - 541 per share. * The issue is a combination of fresh and OFS. The company will not receive any proceeds from the OFS portion. Of the net proceeds from the fresh issue, around Rs. 1,240cr will be used for the early redemption of non-convertible debentures...
IPO Note - Chemplast Sanmar Ltd By Choice Broking
IPO Note - Chemplast Sanmar Ltd By Choice Broking
Source: Choice Broking
10/08/2021 9:27:06 AM
IPO Note - Chemplast Sanmar Ltd by Religare Broking About the Company Chemplast Sanmar Ltd (CSL) is a part of the Sanmar Holdings Ltd, one of the oldest and most prominent corporate groups in the South India region. The company is a specialty chemicals manufacturer in India with a focus on specialty paste PVC resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors. They have four manufacturing facilities, of which three are located in Tamil Nadu and one in Puducherr...
IPO Note - Chemplast Sanmar Ltd by Religare Broking
IPO Note - Chemplast Sanmar Ltd by Religare Broking
Source: Religare Broking Ltd
6/08/2021 2:28:48 PM