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Motilal Oswal Report
Nocil Ltd. is poised to benefit from the rising global demand for rubber chemicals, expanding its market share through strategic sales, diversification, and operational efficiency while navigating strong competition and volatility in raw material prices.
Nocil is investing Rs 2.5 billion in growth-focused capex for capacity expansion at its Dahej and Navi Mumbai facilities, aiming for long-term market leadership and sustainability by enhancing production and adopting green technologies.
It currently trades at a premium of ~38% to its long-term average of 17.9 times on a one-year forward price/earnings basis. The stock is also trading at 23.2 times FY26E EPS of Rs 12.3 and 16.3 times FY26E enterprise value/Ebitda.
Our target price of Rs 305 is premised on 25 times FY26E EPS (~0.7 times PEG ratio). Reiterate Neutral.
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Also Read: Oil, Gas Sector Check - Demand A Worry, But OMCs Poised For Another Leg Up: Motilal Oswal
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