NSE: CHEMPLASTS | BSE: 543336

Expensive Underperformer

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421.55 -0.65 (-0.15%)

30.02% Fall from 52W High

33,350 NSE+BSE Volume

NSE 11 Jul, 2025 3:31 PM (IST)

6,665.1

Market Cap

High in industry

0.8

Beta 1Year

Low volatility

Chemplast Sanmar Ltd. share price target and research reports

Name: Latest research reports of Chemplast Sanmar Ltd. authored by ICICI Securities Limited and published by - Trendlyne research reports.
Item: Chemplast Sanmar Ltd.
Rating: 5
Author: ICICI Securities Limited

Latest analyst research reports with target prices and PDF download for CHEMPLASTS, BSE:543336 Chemplast Sanmar Ltd.

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Chemplast Sanmar Ltd.

22 May 2024

421.55

-0.15%

Customer manufacturing business’ growth visibility stronger; PVC – worst likely behind

Buy: Chemplast Sanmar Ltd.

Target

ICICI Securities Limited

Chemplast Sanmar’s (CSL) Q4FY24 print was expected to be weak, owing to the PVC business continuing to struggle, start-up costs in the custom manufacturing business (new facility and products) and weak revenues from its existing portfolio.

Chemplast Sanmar Ltd. is trading below all available SMAs

Chemplast Sanmar Ltd.

04 Nov 2023

421.55

-0.15%

Customer manufacturing credibility rising faster than anticipated

Buy: Chemplast Sanmar Ltd.

Target

ICICI Securities Limited

Chemplast Sanmar’s (CSL) Q2FY24 EBITDA came in at INR 460mn, which shows depressed business condition in PVC, and non-specialty. The PVC business is poised to recover over the next few quarters, and stabilisation of prices is critical. While Chinese imports rose again in Q2FY24, notification of regulatory measures announced can help arrest these imports.

Chemplast Sanmar Ltd. is trading below all available SMAs

Chemplast Sanmar Ltd.

13 Aug 2023

421.55

-0.15%

Depressed quarter; PVC spreads to start improving from Q2FY24

Buy: Chemplast Sanmar Ltd.

Target

ICICI Securities Limited

Chemplast Sanmar’s (CSL) Q1FY24 EBITDA stood at a loss of INR 345mn, which shows depressed business condition. This was due to large capacity addition in non-specialty business in India; PVC business was hurt by lower prices and VCM prices dropped with a lag.

Chemplast Sanmar Ltd. is trading below all available SMAs

Chemplast Sanmar Ltd.

18 May 2023

421.55

-0.15%

Pressure on PVC spreads persists

Buy: Chemplast Sanmar Ltd.

Target

ICICI Securities Limited

Chemplast Sanmar’s (CSL) Q4FY23 EBITDA was impacted by lower volumes and lower profits in the standalone business. Standalone was impacted by lower revenues from custom manufacturing, high-priced EDC (which hurt paste-PVC spreads) and drop in commodity prices.

Chemplast Sanmar Ltd. is trading below all available SMAs

Chemplast Sanmar Ltd.

13 Feb 2023

421.55

-0.15%

Strong visibility on custom manufacturing business

Buy: Chemplast Sanmar Ltd.

Target

ICICI Securities Limited

Chemplast Sanmar’s (Chemplast) Q3FY23 result has marked the worst for EBITDA, and will likely show significant jump from Q4FY23 driven by: 1) Paste-PVC and S-PVC to benefit from normalisation of spreads; no inventory loss / gains; 2) restocking in PVC to help drive strong volumes.

Chemplast Sanmar Ltd. is trading below all available SMAs

Chemplast Sanmar Ltd.

12 Jan 2023, 12:00AM

421.55

-0.15%

Chemplast Sanmar (NOT RATED): Uptick in PVC prices could aid margin recovery

Not Rated: Chemplast Sanmar Ltd.

BOB Capital Markets Ltd.

Management expects to see benefit of PVC price recovery from Q4 after a muted Q3

Chemplast Sanmar Ltd. is trading below all available SMAs

Chemplast Sanmar Ltd.

08 Nov 2022

421.55

-0.15%

Custom manufacturing springs a positive surprise

Buy: Chemplast Sanmar Ltd.

Target

ICICI Securities Limited

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.

Chemplast Sanmar Ltd. is trading below all available SMAs

Chemplast Sanmar Ltd.

10 Aug 2022

421.55

-0.15%

Spreads hurt on excess supply from China

Buy: Chemplast Sanmar Ltd.

ICICI Securities Limited

Chemplast Sanmar’s (Chemplast) Q1FY23 spreads were impacted by various factors
including: 1) China dumping excess supply into India and other regions; 2) falling PVC
/ VCM prices pushing buyers to start destocking, which hurt volumes; and 3) sharp fall
in prices and slower volume offtake leading to inventory write-downs.

Chemplast Sanmar Ltd. is trading below all available SMAs

Chemplast Sanmar Ltd.

10 Aug 2021

421.55

-0.15%

Chemplast Sanmar Ltd. IPO Note

IPO Note: Chemplast Sanmar Ltd.

Ashika Research

27 Equity Shares and in multiples thereof. Public issue of 71,164,510 Equity shares of Face value Rs. 5 each, (Comprising of fresh issue of 24,029,575 Equity Shares* (Rs. 1300 cr.) and Offer for Sale of...

Chemplast Sanmar Ltd. is trading below all available SMAs

Chemplast Sanmar Ltd.

10 Aug 2021

421.55

-0.15%

Chemplast Sanmar Ltd : IPO

IPO Note: Chemplast Sanmar Ltd.

ICICI Securities Limited

Incorporated in 1985, Chemplast Sanmar (CSL) is a specialty chemicals manufacturer in India with focus on specialty paste PVC resin and custom manufacturing of starting materials and intermediates for pharmaceutical, agro-chemical and fine chemicals sectors. CSL is one of India's leading manufacturers of specialty paste PVC resin on the basis of installed production capacity, as of December 31, 2020. In addition, it is also the third largest manufacturer of caustic soda and the largest manufacturer of hydrogen peroxide in South India, on the basis of installed production...

Chemplast Sanmar Ltd. is trading below all available SMAs

VOTE: Is Chemplast Sanmar Ltd. worth buying?

39 Votes:

Buy 87.18%

Sell 7.69%

Hold 5.13%