Buy Chambal Fertilisers & Chemicals, target price Rs 340: Yes Securities

Yes Securities has buy call on Chambal Fertilisers & Chemicals with a target price of Rs 340. The current market price of Chambal Fertilisers & Chemicals is Rs 302.1. Yes Securities recommended to keep stop loss at Rs 283.

Chambal Fertilisers & Chemicals, incorporated in the year 1985, is a Mid Cap company (having a market cap of Rs 12552.83 Crore) operating in Fertilisers sector.

Chambal Fertilisers & Chemicals key Products/Revenue Segments include Fertilisers and Other Operating Revenue for the year ending 31-Mar-2022.


Financials
For the quarter ended 30-09-2022, the company has reported a Consolidated Total Income of Rs 8675.59 Crore, up 18.75 % from last quarter Total Income of Rs 7305.93 Crore and up 92.97 % from last year same quarter Total Income of Rs 4495.93 Crore. Company has reported net profit after tax of Rs 240.16 Crore in latest quarter.

The company’s top management includes Mr.Saroj Kumar Poddar, Mr.Shyam Sunder Bhartia, Mr.Gaurav Mathur, Mr.Vivek Mehra, Mr.Pradeep Jyoti Banerjee, Mrs.Rita Menon, Mr.Chandra Shekhar Nopany, Ms.Radha Singh, Mr.Marco Philippus Ardeshir Wadia. Company has Price Waterhouse Chartered Accountants LLP as its auditors. As on 30-09-2022, the company has a total of 42 Crore shares outstanding.

Investment Rationale
During the recent swift decline, the stock managed to defend July month’s low. Appearance of multiple tall bullish candle indicates renewed buying interest and shift of band on the upside.

Promoter/FII Holdings
Promoters held 60.48 per cent stake in the company as of 30-Sep-2022, while FIIs owned 13.45 per cent, DIIs 12.57 per cent.