Buy The Fertilisers and Chemicals Travancore, target price Rs 170: Axis Securities

Axis Securities has buy call on The Fertilisers and Chemicals Travancore with a target price of Rs 170. The current market price of The Fertilisers and Chemicals Travancore Ltd. is Rs 142.2.

The Fertilisers and Chemicals Travancore Ltd., incorporated in the year 1943, is a Mid Cap company (having a market cap of Rs 9204.60 Crore) operating in Fertilisers sector.

The Fertilisers and Chemicals Travancore Ltd. key Products/Revenue Segments include Fertilisers (Factamfos 20:20), Subsidy, Ammonium Sulphate, Mop (Muriate Of Potash), Fertilisers Complex, Others, Organic Manures, Sale of services for the year ending 31-Mar-2021.



Financials
For the quarter ended 30-09-2022, the company reported a Consolidated Total Income of Rs 1960.36 Crore, up 49.06 % from last quarter Total Income of Rs 1315.13 Crore and up 142.56 % from last year same quarter Total Income of Rs 808.19 Crore. Company reported net profit after tax of Rs 144.60 Crore in latest quarter.

Investment Rationale
Multiple Resistance Breakout at 136 levels along with huge volumes.

Promoter/FII Holdings
Promoters held 90.0 per cent stake in the company as of 30-Sep-2022, while FIIs owned 8.56 per cent, DIIs 0.01 per cent.