Profitmart Securities has given Buy recommendation for Ultra marine and Pigments with a target price of Rs. 450 in its research report issued on Apr 13, 2021

Profitmart Securities research report on Ultra marine and Pigments

Ultramarine Pigments is part of THIRUMALAI Group and one of the leading manufacturers of pigments and surfactants. The company is over 50 years old and currently has two manufacturing capacity units in Tamil Nadu at Chennai and Ranipet. It is engaged in manufacturing and selling of Pigments, Surfactants, IT-Enabled Services, and Business Process Outsourcing (BPO) activities. Co is the World’s 3rd largest manufacturer of Ultramarine Pigments & is a leading supplier of surfactants particularly to South India based FMCG players.

Outlook

Hence we believe that the UMPL stock should be purchased at the current price for a price target of around Rs 450 over the next 12 to 18 months.