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Neutral Deepak Nitrite Ltd For Target Rs. 3,060 By Motilal Oswal Financial Services Ltd Margin pressure to persist in the near term * Deepak Nitrite (DN) delivered a beat in 1QFY25 led by a strong performance in Deepak Phenolics (DPL) driven by improved realization. EBITDA was above our estimate by 12% in 1QFY25 and stood at INR3.1b (+47% YoY). Adj. PAT was INR2b (estimate of INR1.8b, +35% YoY). EBIT margin contracted YoY in Advanced Intermediates (AI). Management highlighted that there was continued inventory destocking while logistical challenges led to an export slowdown t...
Neutral Deepak Nitrite Ltd For Target Rs. 3,060 By Motilal Oswal Financial Services Ltd
Neutral Deepak Nitrite Ltd For Target Rs. 3,060 By Motilal Oswal Financial Services Ltd
Source: Motilal Oswal Financial Services
2024-08-14 02:38:33 pm
Reduce Deepak Nitrite Ltd For Target Rs. 2,900 By Emkay Global Financial Services We downgrade Deepak Nitrate (DN) to REDUCE from Add, as it has run up ahead of earnings; we raise our SoTP-based TP to Rs2,900/sh (implying 35x PER on Jun-26E). DN’s Q1FY25 EBITDA at Rs3.1bn (+47% YoY/+3% QoQ) was in line with our estimate. Revenue grew 23% YoY (flat QoQ) on volume growth from the standalone business, while DN’s consol. quarterly EBITDA has stayed stable at ~Rs3bn over the last 4 quarters. We believe the phenolics segment has reached maximum volume potential (excl...
Reduce Deepak Nitrite Ltd For Target Rs. 2,900 By Emkay Global Financial Services
Reduce Deepak Nitrite Ltd For Target Rs. 2,900 By Emkay Global Financial Services
Source: Emkay Global Financial Services Ltd
2024-08-11 10:49:06 am
Buy Deepak Nitrite Ltd For Target Rs.3,180 By JM Financial Services Deepak Nitrite’s 1QFY25 earnings print was weaker than our and consensus expectations. The miss was primarily on account of lower-than-anticipated margins in the advanced intermediates business while phenolic business performance was robust. Going ahead, i) recovery in ex-agro segments is likely to continue while agro pick-up is likely to be towards end-3QFY25, ii) Deepak will benefit from backward integration from fluorination and nitric acid capex given it would flow through from 4QFY...
Buy Deepak Nitrite Ltd For Target Rs.3,180 By JM Financial Services
Buy Deepak Nitrite Ltd For Target Rs.3,180 By JM Financial Services
Source: JM Financial Services Ltd
2024-08-10 12:38:13 pm
India`s Tata Chemicals posts Q1 profit drop on lower soda ash prices Indian chemicals maker Tata Chemicals reported a 71.8% fall in its first-quarter profit on Monday, hurt by lower soda ash prices and subdued demand. Consolidated net profit fell to 1.5 billion rupees ($17.9 million) for the quarter ended June 30 from 5.32 billion rupees a year earlier. Revenue from operations fell more than 10% to 37.89 billion rupees for the quarter. For further results highlights, (nFWN3JS0TZ) KEY CONTEXT China's economic slump and decreased EU demand for...
India`s Tata Chemicals posts Q1 profit drop on lower soda ash prices
India`s Tata Chemicals posts Q1 profit drop on lower soda ash prices
Source: Reuters
2024-08-05 04:52:06 pm
Buy Deepak Nitrite Ltd For Target Rs. 2,565 - JM Financial Institutional Securities Deepak Nitrite’s 3QFY24 earnings print was weaker than our and consensus expectations. This miss was primarily on account of sustained weakness in the advanced intermediates business and lower-than-anticipated jump in phenolic spreads. Although demand recovery is likely to be fragile, the company expects a better performance 4QFY24 onwards in advanced intermediates. Besides this, we believe the commissioning of capex worth INR 20bn in CY24 (likely one project every quarter with full ben...
Buy Deepak Nitrite Ltd For Target Rs. 2,565 - JM Financial Institutional Securities
Buy Deepak Nitrite Ltd For Target Rs. 2,565 - JM Financial Institutional Securities
Source: JM Financial Services
2024-05-27 12:16:12 pm
Add Deepak Nitrite Ltd For Target Rs.2,600 - Emkay Global Financial Services DN’s Q3 EBITDA at Rs3bn (flat YoY/QoQ) was below consensus/our estimates of Rs3.3bn. While the current environment remains subdued for chemicals, on several headwinds including lower global consumption, the management guided that it is focusing on operational and process efficiencies to maintain cost competitiveness. DN raised its stake in its Oman entity to 51%, where it plans to expand its sodium nitrite production capacity. Deepak Chem Tech (DCTL) signed an MoU worth Rs90bn in Jan-24...
Add Deepak Nitrite Ltd For Target Rs.2,600 - Emkay Global Financial Services
Add Deepak Nitrite Ltd For Target Rs.2,600 - Emkay Global Financial Services
Source: Emkay Global Financial Services
2024-05-25 12:10:48 pm
Neutral Deepak Nitrite Ltd For Target Rs.2,185 - Motilal Oswal Financial Services Subdued performance in AI segment leads to miss * Deepak Nitrite (DN) delivered a miss in 3QFY24, led by a weaker than expected performance in advance intermediate (AI). The quarter saw persistent pricing pressure by Chinese suppliers in chemical intermediates. EBITDA at INR3b missed our estimate by 15%, while PAT stood at INR2b vs. our estimate of INR2.5b. Margin also declined YoY due to the AI segment. * The management highlighted that global consumption trends have been hit as the ch...
Neutral Deepak Nitrite Ltd For Target Rs.2,185 - Motilal Oswal Financial Services
Neutral Deepak Nitrite Ltd For Target Rs.2,185 - Motilal Oswal Financial Services
Source: motilal oswal financial services
2024-05-24 12:41:10 pm
Reduce Deepak Nitrite Ltd. for Target Rs.1,985 By Prabhudas Lilladher Pvt. Ltd. Quick Pointers: * MoU worth Rs90bn with the Government of Gujarat on January 31, 2024; adding to the previous MoU worth Rs50bn as of May 23, 2023 for an aggregate of ~Rs140bn * Phenolics plant utilization at 140-150% for Q3FY24 Deepak Nitrite (DN) topline grew 13% QoQ anchored by solid growth in the Phenolics segment, driven by robust volume growth and improved realization. Advanced Intermediates segment experienced subdued demand recovery in agrochemicals, textiles and dyes & p...
Reduce Deepak Nitrite Ltd. for Target Rs.1,985 By Prabhudas Lilladher Pvt. Ltd.
Reduce Deepak Nitrite Ltd. for Target Rs.1,985 By Prabhudas Lilladher Pvt. Ltd.
Source: Prabhudas Lilladher Pvt. Ltd.
2024-05-19 11:15:19 am
Buy Deepak Nitrite Ltd. For Target Rs.: 2,565 - JM Financial Securities Deepak Nitrite’s 3QFY24 earnings print was weaker than our and consensus expectations. This miss was primarily on account of sustained weakness in the advanced intermediates business and lower-than-anticipated jump in phenolic spreads. Although demand recovery is likely to be fragile, the company expects a better performance 4QFY24 onwards in advanced intermediates. Besides this, we believe the commissioning of capex worth INR 20bn in CY24 (likely one project every quarter with full ben...
Buy Deepak Nitrite Ltd. For Target Rs.: 2,565 - JM Financial Securities
Buy Deepak Nitrite Ltd. For Target Rs.: 2,565 - JM Financial Securities
Source: JM Financial Services
2024-05-01 11:42:34 am