ICICI Securities is bullish on Chemplast Sanmar recommended buy rating on the stock with a target price of Rs 575 in its research report dated August 13, 2023.

Buy Chemplast Sanmar; target of Rs 575: ICICI Securities

Chemplast Sanmar inaugurated the first phase of its new multi-purpose production block project, with an investment of ₹300 crore. The facility, located in Berigai, Tamil Nadu, was launched by Vijay Sankar, Chairman of Chemplast Sanmar, and is fully automated with a state-of-the-art automation system…

Chemplast commissions phase 1 of project in custom manufactured chemicals business

Revenue from operations contracted 39% to ₹350 crore

Chemplast Sanmar posts loss in Q1 due to sluggish demand

Chemplast Sanmar Ltd reported a consolidated net loss of Rs 64 crore in Q1FY24, impacted by a steep fall in prices & huge dumping from China. Domestic demand for Suspension PVC & Speciality Paste PVC was strong, but other chemicals faced weak demand & excess supply. Custom-manufactured chemicals div…

Chemplast Sanmar posts Rs 64-crore loss in Q1 on dumping by China

Project activities related to the second phase of the production block are also underway and are expected to be completed over the next 8 months.

Chemplast Sanmar New Multi-Purpose Production Block Dedicated Today

Chemplast Sanmar Ltd expects custom manufacturing biz to grow, driven by energy crisis in Europe, decreasing trust in Chinese supply chain, and growing trust of Indian players. The company’s CMCD division recorded 26% growth in FY23 and the addressable opportunity is $2B. CSL is investing in capacit…

Chemplast bets on its proven track record to grow custom manufacturing biz

Chemplast Sanmar Ltd. plans to invest ₹1,000 crore to expand capacities of Speciality Paste PVC and Custom Manufactured Chemicals Division. Expansion projects are in progress and will be completed by FY24. Demand for products is strong and energy costs have dropped. Company is optimistic and investm…

Chemplast Sanmar plans ₹1,000 cr. expansion at Cuddalore, Berigai units

Manufacturing planned at Berigai unit near Hosur

Chemplast Sanmar unit plans to manufacture active ingredient

Chemplast Sanmar’s Custom Manufactured Chemicals Division has been chosen as a supplier for a global agrochemical innovator’s new Active Ingredient. Share price rose 2.10% to Rs 444.45.

Chemplast Sanmar bags contract for new active ingredient

Speciality-chemicals maker Chemplast Sanmar Ltd. is aiming at a threefold increase in revenue from custom-manufactured business to ₹1,000 crore over the next three to four years, post the completion of two-phase expansion programme at Berigai, MD Ramkumar Shankar said.

Speciality-chemicals maker Chemplast aims at ₹1,000-crore turnover from custom-manufactured business

Sanjiv Bhasin of IIFL Securities, recommends investing in two specialty chemical companies, Chemplast Sanmar and Jubilant Ingrevia, for a potential 40-50% upside in the next year. Bhasin also praises the Adani Group and believes the long-term story remains robust. He suggests investing in cement com…

Sanjiv Bhasin Portfolio | Chemical Stocks: 2 specialty chemical stocks to go for if you seek 40-50% upside in next one year: Sanjiv Bhasin

Hasn't fared well - amongst the low performers

Performance

Seems to be overvalued vs the market average

Valuation

Financials growth has been moderate for a few years

Growth

Showing good signs of profitability & efficiency

Profitability

The stock is overpriced but is not in the overbought zone

Current price is more than the intrinsic value

Fundamentals

Good time to consider, stock is not in the overbought zone

Technicals

Entry point

Promoter pledged holding

Unsolicited messages

Default probability

Red flags

Chemplast Sanmar Limited is engaged in the business of manufacturing of polyvinyl chloride (PVC) resins, caustic soda, chlorochemicals, refrigerant gas and industrial salt.