I G Petrochemicals Ltd. share price target

IG Petrochemicals (IGPL) in Q4FY18 posted revenues of Rs. 313 Cr (up 8% Y-o-Y, up 6% Q-o-Q) due to steady production of Phthalic anhydride led by strong demand in end user industries.

IG Petrochemicals (IGPL) in 3QFY18 posted revenues of Rs. 294.6 Cr (up 24% Y-o-Y, up 22% Q-o-Q) due to increase in production of Phthalic anhydride by 18% QoQ led by strong demand in end user industries.

IGPL has proposed to set up a new plant through Brownfield expansion (PA4) and increase its capacity by 53,000(TPA), taking its total capacity to 2,28,250 TPA .PA4 expected to get commission in NSE Symbol Q4FY19. The company added 6,000TPA capacity (3.5% of total capacity) through debottlenecking during Q2FY18, we expect this will provide scope for volume growth in FY19. We modeled 6.3% volume growth in PAN with 6.9% realization growth which will leads to 13.6% overall PAN growth over FY17-20E. Further, we expect incremental revenue from MA and DEP in FY19/20 respectively which...

Market Leadership in Phthalic Anhydride industry in India: IG Petrochemicals is the market leader of Phthalic Anhydride in India commanding ~49% of the market share.

IG Petrochemicals (IGPL) in 2QFY18 posted revenues of Rs. 241 Cr (down 5.5% Y-o-Y, down 18.6% Q-o-Q) due to a plant shutdown for a month for catalyst change.The company undertook de-bottlenecking exercises to increase capacity by 6000 MTPA.

IG Petrochemicals (IGPL), flagship company of the Dhanuka Group, is India's largest Phthalic Anhydride (PAN) manufacturer and one of the lowest cost producers of PAN across the globe.We estimate revenues and earnings to grow at 13% and 32% CAGR respectively over FY17-19E .