Hem Securities has given Buy recommendation for Fineotex Chemical with a target price of Rs. 150 in its research report issued on Aug 05, 2021

Hem Securities report on Fineotex Chemical

The Revenue from Operation for the Q1FY22 has increased by 108% to Rs 6327.57 Lakhs from Rs. 3038.71 Lakhs on Y-o-Y basis. The EBIDTA for the quarter has increased by 139% to Rs 981.87 Lakhs from Rs. 411.11 Lakhs on Y-o-Y basis & the Profit after tax (PAT) for the quarter has increased by 21.44% to Rs 947 Lakhs from Rs. 780 Lakhs on Y-o-Y basis.

Outlook

Company is currently trading at 22.35X of FY23E EPS & 17.52x of FY24E EPS. With company’s joint venture with HealthGuard, appointment of new Chief Executive Officer & upcoming brownfield facility at Ambernath, Maharashtra , the business prospects are looking very strong.We maintain “BUY” on stock with upgraded price target of Rs 150/share.

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