Bodal Chemicals Ltd. share price target

Q1FY21 revenue of Bodal Chemicals de-grew by 68.4% YoY to Rs1178mn. Revenues were Despite challenges in the demand environment, TVS Motor Company (TVS) reported good severely impacted due to lockdown in the country which led to temporary shutdown of the...

On SPS Processors, the company has received approvals to start the VS plant, however, Navratri/Dussehra post clarification on GST, management intends to start the plant once the demand scenario improves. We expect good monsoon & attractive pricing/offers....

Largely Unaffected Q4; Lockdown likely to impact Q1FY21 earnings We expect the companies under our chemicals coverage to report revenue growth of ~4.2% in Q4FY20 with 7.3% growth in profitability, driven by the benefit of price increase in few chemicals and reduction in the tax rate. Chemicals being basic building blocks of end-user applications are most likely to feel the slowdown in demand due to nationwide restricted movement. Indian chemical companies' have a raw material dependency on China. Still, most companies have adequate inventory to cater to demand in the near-term (at least for the current quarter). With the gradual resumption of work in Chinese factories, supply issues are expected to resolve. Additionally, crude derivatives as raw material for chemical companies will be positive for the gross margins given the drop in oil prices....

Since the Coronavirus issue outbreak in China, technical/key input prices like H Acid, Vinyl sulphone surged at least 30-50% in a month. This is largely owing to the fact that Wuhan is considered one of the largest manufacturer of dye intermediates. However, we believe the recent price increase is largely sentimental in nature. Once China comes back into production, we expect to see a softening in key input prices. India had witnessed Vinyl sulphone imports of mere | 47 crore from China in FY19 while exports remained at | 740 crore of which exports to China were at | 299 crore...

The board has given approval for expansion in the capacity of dyestuff at both Vadodara (1600 TPM) and Ahmedabad plant (400 TPM). We expect this to result into visibility in the volume growth post FY21. Further, the company is also entering into caustic soda business with a capacity of 300 TPD, translating into stability in the realisation growth to some extent in long run. However, any disruption from China could put pressure on realisation growth for entire capacity and thereby can curtail operating margins. Total capex for dyestuff, S Acid and caustic soda is earmarked at | 1023 crore with...

Bodal Chemicals Q2FY19 numbers were in line with estimates. EBITDA margin during the quarter strengthened further by 40bps QoQ, supported by a change in product mix and a higher realisation. Going ahead, we foresee...

ICICI Securities Ltd | Retail Equity Research Bodal Chemicals (Bodal) reported a muted Q4FY18 performance on the back of softer blended realisation compared to base quarter. Net sales for the quarter were at | 282.4 crore, down 2.8% YoY EBITDA in Q4FY18 came in at | 46.7 crore with corresponding EBITDA margins at 16.5% (down 220 bps YoY). Lower margins were a result of higher overheads incurred in FY18 due to execution of major expansion projects and were not operational in nature...

Bodal is the largest integrated manufacturer of dyestuff and dyeintermediates in India. It has undertaken multiple expansions in its core business and diversified areas with subsequent ramp expected to fuel next leg of growth in FY19E-20E As of 9MFY18, its core business of dyestuff and dye intermediates continued to witness satisfactory growth in volume terms However, partial resumption of Chinese capacity in FY18E led to softening of product realisations (down 10% YoY) thereby resulting in marginal decline in topline in FY18E (absolute basis)...

Bodal Chemicals Limited (Bodal) is engaged in the manufacture of basic chemicals, dye intermediates and dyestuff that are used across the textiles, leather and paper industry. The company is among world's largest manufacturer and exporter of dyes intermediate, dyestuff and sulphuric acid and has diversified into speciality chemicals. Bodal has built an integrated model of dye manufacturing and has the cost advantage due to complete integration. Bodal has an installed capacity of 190,000, 37,200 & 17,000 MT of basic chemicals, dye intermediates and dyestuff respectively. Bodal has presence not only in India but across the globe and serves...

Bodal Chemicals Limited is a Integrated and Innovative company, offering end -to-end solution to our customers globally. Bodal Chemicals is amongst the world's largest manufacturer and exporter of Dyes Intermediate, Dyestuff and Sulphuric Acid, with vertically and horizontally integrated facility which provides product solutions and service...

We recently attended the analyst day of Bodal Chemicals (Bodal). We met the senior management team to get an insight into the global dyes & dye intermediates industry and the company's role in the value chain. We were impressed by the industry stewardship of Bodal and lucrative expansion plans, which will ensure a sustainable topline and bottomline growth (~20% CAGR) in FY16-19E. Bodal is a three decade old enterprise engaged in the manufacture of basic chemicals, dye intermediates and dyestuff that are used across the textiles, leather and paper industry. It...

We recently attended the analyst day of Bodal Chemicals (Bodal). We met the senior management team to get an insight into the global dyes & dye intermediates industry and the company's role in the value chain. We were impressed by the industry stewardship of Bodal and lucrative expansion plans, which will ensure a sustainable topline and bottomline growth (~20% CAGR) in FY16-19E. Bodal is a three decade old enterprise engaged in the manufacture of basic chemicals, dye intermediates and dyestuff that are used across the textiles, leather and paper industry. It...

Bodal Chemicals Ltd. (BCL) commenced operations in 1989 as a partnership firm and subsequently converted into a private limited company in 1993. BCL is promoted by Mr. Suresh J Patel, who has a...