External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

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External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

<ul><li>We are maintaining a ADD recommendation on Aarti Industries Ltd (AIL with a target price of INR490.</li><li>Revenue and EBITDA are expected to increase 13/24% over FY25-28E. Profitability will be driven by a. commissioning of projects worth INR23-25bn over next 15 months, b. cost optimization measures undertaken, and c. volume growth across products. Gasoline-naphtha spreads have improved in December from the four-year lows in October.</li><li>Export volumes of Mono Methyl Aniline (MMA) surged 105/38% QoQ/YoY in Q3. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</li></ul>

We are maintaining a ADD recommendation on Aarti Industries Ltd (AIL with a target price of INR490.Revenue and EBITDA are expected to increase 13/24% over FY25-28E. Profitability will be driven by a. commissioning of projects worth INR23-25bn over next 15 months, b. cost optimization measures undertaken, and c. volume growth across products. Gasoline-naphtha spreads have improved in December from the four-year lows in October.Export volumes of Mono Methyl Aniline (MMA) surged 105/38% QoQ/YoY in Q3. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Aarti Industries: Positive Outlook with Robust Growth Ahead. Maintain ADD