BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
IDBI Capital Report
We attended the call held by Navin Fluorine International Ltd. to update on the resignation of the Chief Executive Officer, Radhesh Welling. Vishad Mafatlal, the Chairman handled most of the queries.
The search for a senior professional as a successor is underway and will be updated in due course. The management mentioned that all the top clients have been informed about this transition and all of the major capex is on track although there could be slight delays of a quarter or so.
Although the management did attempt to assuage investor concerns by stating that major capex plans and client engagements stay on track, we believe that recent exits of the contract development and manufacturing organisation head and the CEO are valid concerns warranting a cut in target multiple.
We maintain our 'Buy' rating with a downward revised target price of Rs 4,625 at 40 times FY25E (earlier 45 times) earnings.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.