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Motilal Oswal Report
The brokerage firm Motilal Oswal Financial Services has reiterated its Buy rating on Privi Speciality Chemicals Ltd. with a target price of Rs 3900, based on 27x FY28E EPS i.e. three year average – one year forward price/earning, implying a potential upside of 24% from the current market price.
According to the brokerage Privi Speciality Chemicals is well-positioned for sustainable growth, supported by its relatively low crude-linked exposure (~25%), which provides resilience against ongoing energy market volatility and supports margin stability.
The upcoming mergers with Privi Fine Science, Privi BiotechnologiesL and PRIGIV, joint venture with Givauda are expected to expand its specialty aroma portfolio. Consequently, this is expected to drive revenue growth and enhance earnings.
Further, the company's expansion into high-value specialty molecules such as Maltol, Ethyl Maltol, and Cyclopentanone (from the Corn Cob route), coupled with backward integration into Furfural, is expected to contribute meaningfully to revenues while improving cost competitiveness and margins.
The brokerage expects Privi to clock a compound annual growth rate of 25%/27%/34% in revenue/Ebitda/PAT during FY26-28.
Motilal Oswal has reiterated its Buy rating on the stock.
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