Buy Rashtriya Chemicals & Fertilizers, target price Rs 104: IIFL

IIFL has buy call on Rashtriya Chemicals & Fertilizers with a target price of Rs 104. The current market price of Rashtriya Chemicals & Fertilizers Ltd. is Rs 97.05. Rashtriya Chemicals & Fertilizers Ltd., incorporated in the year 1978, is a Mid Cap company (having a market cap of Rs 5354.13 Crore) operating in Fertilisers sector.

Rashtriya Chemicals & Fertilizers Ltd. key Products/Revenue Segments include Other Operating Revenue, Urea, Suphala 15:15:15, Ammonium Nitrate Melt, Ammonia, Di Ammonium Phosphate (DAP), NPK 20-20-0, Other Industrial Products, Methylamines, Nitric Acid (Diluted), Muriate Of Potash (Trading), NPK ( Sikka ), Others, By Products, Scrap for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-06-2022, the company reported a Consolidated Total Income of Rs 5017.41 Crore, up 21.17 % from last quarter Total Income of Rs 4140.66 Crore and up 107.57 % from last year same quarter Total Income of Rs 2417.26 Crore. Company reported net profit after tax of Rs 295.08 Crore in latest quarter.

Investment Rationale
RCF has given a consolidation breakout

Promoter/FII Holdings
Promoters held 75.0 per cent stake in the company as of 30-Jun-2022, while FIIs owned 2.95 per cent, DIIs 0.3 per cent.