Buy Sudarshan Chemicals; target of Rs 850: Anand Rathi

Anand Rathi is bullish on Sudarshan Chemicals has recommended buy rating on the stock with a target price of Rs 850 in its research report dated Jun 01, 2021.

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Anand Rathi’s research report on Sudarshan Chemicals

Backed by good demand domestically, in exports and across product categories, Sudarshans’ Q4 revenue climbed 28.4% y/y, 13.9% q/q to Rs5.7bn, its highest. Considering its large ongoing expansions, launch of key products in Q2 FY22, leading position and focus on high-margin products, we are upbeat about its future performance.

Outlook

We maintain our stock rating with a higher TP of Rs850 (29x FY23e EPS), earlier Rs650.

For all recommendations report, click here

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