Privi Speciality Chemicals Ltd. share price target

PRIVI delivered a healthy performance in 3QFY26 as EBITDA grew 34% YoY tov INR1.5b. EBITDA margins expanded 200bp YoY to 25.0% (est. 23.1%), led by lower power & fuel costs (down 50bp) and other expenses (down 400bp).

Privi Speciality Chemicals (PRIVI) is India’s largest aroma chemical manufacturer and exporter with 75 products and over 30 years of industry expertise.

High growth driven by constant innovation

The stock is currently not under our coverage and we do not have a view on the same. The stock currently trades at 77x of its FY24 EPS

Unique Business Structure and better product mix provides edge to the AFL AFL is has unique product portfolio of Dimer acid, Linoleic acids and natural vitamin E. These fatty acids are widely used in mainly industries like paints, inks, textiles, lubricants etc. AFL has a low cost of manufacturing and their quality is also at par or better in many cases with Chinese and European suppliers. This provides edge to the company over other competitors. AFL makes this product by using relatively cheaper raw material which is a by-product of refinery (Acid Oil) whereas world at large makes them from virgin Vegetable oils or Tall Oils. These products are widely used in the paints, inks, lubricant industry. These agents are served as primary...