Nocil Q3 Results Review - Challenges Persist: Prabhudas Lilladher

NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Prabhudas Lilladher Report.Nocil Ltd. topline came inline with our estimates at Rs 3.4 billion (our estimate: Rs 3.4 billion), however, Ebitda/profit after tax came in above estimates at Rs 477/298 million (our estimate: Rs 385/221 million. As per our calculation, average realization remained flat at Rs 272 /kg on QoQ basis and declined 9% YoY. Ebitda grew 9% QoQ to Rs 38/kg. Non latex segment saw some growth but latex demand was bottomed up. The management of the company believes that - Q4 FY24 will be better than Q3 FY24,Domestic tyre industry is expected to grow at a CAGR of 3-6%,Capacity utilisation to improve, currently 62-65% is utilised. The stock is trading at ~24 price/earning on FY24E EPS. We maintain ‘Reduce’ rating with a target price 254 valuing the company at 22 times FY26 EPS..Click on the attachment to read the full report:.Astra Microwave Update - Riding On Strong Sectoral Tailwinds: ICICI Direct.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Nocil Q3 Results Review - Challenges Persist: Prabhudas Lilladher

Increasing Chinese imports impacting prices and volumes, remains a key concern

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