BHAGERIA IN­DUS­TRIES

Flash News Investment - - RECOMMENDATIONS -

{Ticker : 530803

{FV: ₹5

{52-Week H/L: ₹423/228

Bhageria In­dus­tries was rec­om­mended on Septem­ber 14, 2017 on the ba­sis of ex­pected growth in com­mod­ity chem­i­cals. The com­pany re­ported growth of 4 per cent in rev­enue to reach rev­enue of Rs 88.7 crore.

How­ever, we see that ex­penses in­creased by 6 per cent lead­ing to de­cline in EBITDA by 3.8%. Due to higher de­pre­ci­a­tion, its net profit fell by 43 per cent on a YoY ba­sis. How­ever, on a QoQ ba­sis, we see re­cov­ery in vol­umes and op­er­at­ing ex­pense within limit. We ex­pect the com­pany will be less im­pacted by spike in raw ma­te­rial prices and EBITDA is also ex­pected to smoothen go­ing for­ward. Hence, we rec­om­mend in­vestors to HOLD the stock.

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