We are valuing Vinati Organics 25xDec'20 EPS with a revised target price of Rs 1,840. Vinati Organics (VO) reported another strong quarter with Sales/EBITDA/PAT coming in at Rs 3.03bn/1.06bn/ 707mn growing at 63.2/113.6/122.8% YoY respectively. VOs planned expansion in ATBS and Butylated Phenols is going as per schedule