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Entry Price

78.00

Target

90.00

Recommend Date

14-02-2020

Return

15.38 %
BUY

Date : 14-02-2020

Bodal Chemical reported a muted revenue performance largely on account of a fall in intermediate prices, resulting in a fall in realisations. Revenue for the quarter was at | 326.4 crore (down 2.4% YoY). Total production for Q3FY20 improved 11% YoY to 52,084 MT. OPM contracted 961 bps YoY to 7.05% due to poor gross margins, leading to EBITDA decline of 58.7% YoY to | 23.02 crore. Higher other income (| 4.2 crore vs. | 0.53 lakh) was largely negated by higher finance cost (up 154.8% YoY) leading the bottomline to fall 54.9% YoY to | 12.85 crore.