Buy Archean Chemical Industries, target price Rs 693: Axis Securities

Axis Securities has buy call on Archean Chemical Industries with a target price of Rs 693. The current market price of Archean Chemical Industries Ltd. is Rs 613.6.

Archean Chemical Industries Ltd., incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 7650.61 Crore) operating in Chemicals sector.

Archean Chemical Industries Ltd. key Products/Revenue Segments include Salt, Bromine, Potash, Others for the year ending 31-Mar-2023.



Financials
For the quarter ended 31-12-2023, the company reported a Consolidated Total Income of Rs 421.87 Crore, up 39.85 % from last quarter Total Income of Rs 301.66 Crore and up 13.28 % from last year same quarter Total Income of Rs 372.40 Crore. Company reported net profit after tax of Rs 101.53 Crore in latest quarter.


Promoter/FII Holdings
Promoters held 53.45 per cent stake in the company as of 31-Dec-2023, while FIIs owned 4.15 per cent, DIIs 28.69 per cent.