68.45 0.85 (1.26%)
852.6K Volume
NSEFeb 25, 2021 03:31 PM
The 3 reports from 1 analysts offering long term price targets for Filatex India Ltd. have an average target of 85.00. The consensus estimate represents an upside of 24.18% from the last price of 68.45.
Summary | Date | Stock | Broker | Price at Reco. | Target | Price at reco Change since reco(%) | Upside(%) | Type | Report | Discuss |
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2021-01-14 | Filatex India Ltd. + | ICICI Securities Limited | 64.70 | 85.00 | 64.70 (5.80%) | 24.18 | Buy | Filatex India
ICICI Securities Limited
FIL has enhanced its focus on value added products like FDY, DTY which provide better margins than chips, POY. The share of value added products in Q3FY21 was ~ 85% of revenues. We expect the share of value added products to increase from 65% in FY20 to ~ 82% in FY22E. This would provide a fillip to the margin profile of the company. Also, the company's 30 MW thermal power plant is expected to be operational from April 2021, which is expected to result in annual power cost saving to the tune of | 4045 crore, thereby further aiding improvement in EBITDA margins. From a longer term perspective, the company is planning to foray into recycled...
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2020-12-23 | Filatex India Ltd. + | ICICI Securities Limited | 44.05 | 55.00 | 44.05 (55.39%) | Target met | Buy | Filatex India
ICICI Securities Limited
Product realisations across polyester oriented yarn (POY), fully drawn yarn, drawn textured yarn (DTY) have improved from October 2020 while raw material prices have not risen in similar proportion. This has led product spreads to improve for Indian polyester yarn manufacturers. Filatex being a major player in the Indian polyester industry appears well placed to benefit from enhanced margin profile for products like polyester chips, POY/FDY, DTY. As per Crisil data, margins for POY that had fallen from ~ | 26/kg in March 2020 to ~| 12/kg in July 2020 have improved significantly and are...
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2020-11-12 | Filatex India Ltd. + | ICICI Securities Limited | 27.40 | 33.00 | 27.40 (149.82%) | Target met | Buy | Filatex India
ICICI Securities Limited
The company is seeing an improvement in demand as markets continue to recover post pandemic. In Q2FY21, Filatex received several export enquiries but shortage of containers, high freight rates curtailed its ability to capture incremental demand. In September, yarn capacity utilisation levels reached 90% while challenges in logistics have also reduced. This would enable the company to cater to the increased demand. With commencement of valueadded drawn textured yarn (DTY) production from August 31, 2020, we expect increased revenue share from value added products. The improvement in product mix is expected to bolster its margin profile. Both...
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2018-09-17 | Filatex India Ltd. + | Khambatta Securities | 44.70 | 102.00 | 44.70 (53.13%) | Buy | Filatex India
Khambatta Securities
Filatex India Limited (FIL), a polyester yarn and chips manufacturer with production facilities in Dahej (Gujarat) and Dadra, is one of India's top five polyester filament yarn manufacturers. FIL's state-of-the-art manufacturing facilities with stringent quality control, diversified product mix, a pan-India client base, and a healthy share of export income will enable the company to achieve industryleading growth going forward. Slowdown in the Chinese polyester yarn industry due to the government's clampdown, driven by environmental concerns, and a...
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2018-03-28 | Filatex India Ltd. + | IDBI Capital | 163.55 | 163.55 (-58.15%) | Pre-Bonus/ Split | Mgmt Note | Management Visit Note of Filatex India
IDBI Capital
We met the promoter of Filatex India (Filatex), Mr. Madhu Sudhan Bhageria and visited the company's Dahej facility. Filatex manufactures synthetic filament yarns and it has recently set-up Bright Polymerisation facility at Dahej. The company is confident of full-ramp up of Bright products from Q1FY19 and post ramp up it aims to spend capex of Rs2,000-3,000mn in FY20 on further expansion. It expects incremental Rs900-1,000 mn of annual EBTIDA from newly set-up Bright polymerization project, which gives a project ROCE of 22% as per our calculation....
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