Styrolution ABS (India) Limited
Styrolution ABS (India) Limited (SAI) is the leader and number
one producer of ABSOLAC (ABS) in India. ABS is a plastic resin produced
from Acrylonitrile, Butadiene & Styrene, used for manufacturing of
home appliances, automobiles, consumer durables and business machines.
The company is also a leading manufacturer of ABSOLAN (SAN) which is a
polymerized plastic resin produced from Styrene & Acrylonitrile, and
mainly used for products such as lightings, stationeries, novelties,
refrigerators and cosmetic packing. With 40 years of pioneering
experience SAI has been the most preferred supplier to our esteemed
customers. We take immense effort in analyzing and understanding our
customer's requirements to offer innovative solutions that enhances
quality of their products. Our commitment to offer best-in-class
products and customized solutions has put us in number one position.
Styrolution,
is the global leader in Styrenics. With combined pro forma sales of 5.8
billion EUR in 2013, it is the number one supplier of styrene monomers,
polystyrene and copolymers, and the number two supplier of ABS
(acrylonitrile butadiene styrene) across the globe. With over 80 years
of solid experience Styrolution provides styrenic applications for many
everyday products across a range of industries,
including automotive, electrical/electronics, building and
construction, household appliances, toys/sports/leisure, packaging,
healthcare and diagnostics. With best-in-class production technology,
advanced R&D skills and strong IP and patents positions, Styrolution
is perfectly equipped to ensure the highest level of quality,
efficiency and innovation.
Infrastructure
Nandesari Plant:
Nandesari Plant is located in GIDC Industrial Estate Nandesari. Gujarat, India. This plant manufactures ABSOLAC (Acrylonytrile Butadiene Styrene). The plant was started with an installed capacity of 2000 Tones/ annum in 1978. The Plant is now doing exceedingly well. This year the production of ABS has remained at the level of 50000.
Katol Plant:
Started in 1993, this is a fully automated plantwhich produces the ABSOLAN plastic resins.
Moxi Plant:
Absolac (ABS):
Absolan (SAN):
Outlook and Valuation: "With the Automobile and Household industry expected to report healthy growth, which will drive the demand for Styrolution products, we expect the company to post a revenue CAGR of 12.8% (adjusted for FY2015E) over FY2015E-17E to Rs 1,508cr in FY2017E. The EBITDA is expected to grow at a CAGR of 49.2% over FY2015E-17E to Rs 143cr while margins are expected to rebound to higher single digit levels of 9.5% in FY2017E. The net profit is expected to register a CAGR of 71.1% over the same period to Rs 78cr in FY2017E.
We recommend an Accumulate rating on the stock, with a target price of Rs 758, assigning a P/E multiple of 17x to its FY2017E EPS of Rs 44.6", says Angel Broking research report
10 years chart
Nandesari Plant is located in GIDC Industrial Estate Nandesari. Gujarat, India. This plant manufactures ABSOLAC (Acrylonytrile Butadiene Styrene). The plant was started with an installed capacity of 2000 Tones/ annum in 1978. The Plant is now doing exceedingly well. This year the production of ABS has remained at the level of 50000.
Katol Plant:
Started in 1993, this is a fully automated plantwhich produces the ABSOLAN plastic resins.
Moxi Plant:
Situated near Vadodara,
the Moxi plant is a tribute to the ever growing demand of high quality
thermoplastic resins required for the modern age consumer products.
Safety and quality are deeply inculcated in our culture which drives us
to keep thinking new ways of enhancing our capabilities to provide even
better products to our customers. That is why an ultra-modern
state-of-the-art research and development centeris a signature of our
commitment to the future expectations of our customer.
products:
Absolac (ABS) is plastic resin produced from Acrylonitrile, Butadiene
& Styrene. It is a widely used intermediary product. Its
applications ranges from home appliances to Automobile and consumer
durables to business machines.
Absolan (SAN):
Absolan (SAN) is also a polymerized plastic resin which is produced
from Styrene & Acrylonitrile. It has its main applications in the
Lightings, Stationeries and novelties, Refrigerators and cosmetic
packing
Outlook and Valuation:
"With the Automobile and Household industry expected to report healthy
growth, which will drive the demand for Styrolution products, we expect
the company to post a revenue CAGR of 12.8% (adjusted for FY2015E) over
FY2015E-17E to Rs 1,508cr in FY2017E. The EBITDA is expected to grow at a
CAGR of 49.2% over FY2015E-17E to Rs 143cr while margins are expected
to rebound to higher single digit levels of 9.5% in FY2017E. The net
profit is expected to register a CAGR of 71.1% over the same period to
Rs 78cr in FY2017E. We recommend an Accumulate rating on the stock, with
a target price of Rs 758, assigning a P/E multiple of 17x to its
FY2017E EPS of Rs 44.6", says Angel Broking research report
Read more at: http://www.moneycontrol.com/news/recommendations/accumulate-styrolution-abs-targetrs-758-angel_1314360.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/recommendations/accumulate-styrolution-abs-targetrs-758-angel_1314360.html?utm_source=ref_article
Outlook and Valuation: "With the Automobile and Household industry expected to report healthy growth, which will drive the demand for Styrolution products, we expect the company to post a revenue CAGR of 12.8% (adjusted for FY2015E) over FY2015E-17E to Rs 1,508cr in FY2017E. The EBITDA is expected to grow at a CAGR of 49.2% over FY2015E-17E to Rs 143cr while margins are expected to rebound to higher single digit levels of 9.5% in FY2017E. The net profit is expected to register a CAGR of 71.1% over the same period to Rs 78cr in FY2017E.
We recommend an Accumulate rating on the stock, with a target price of Rs 758, assigning a P/E multiple of 17x to its FY2017E EPS of Rs 44.6", says Angel Broking research report
10 years chart
Outlook and Valuation:
"With the Automobile and Household industry expected to report healthy
growth, which will drive the demand for Styrolution products, we expect
the company to post a revenue CAGR of 12.8% (adjusted for FY2015E) over
FY2015E-17E to Rs 1,508cr in FY2017E. The EBITDA is expected to grow at a
CAGR of 49.2% over FY2015E-17E to Rs 143cr while margins are expected
to rebound to higher single digit levels of 9.5% in FY2017E. The net
profit is expected to register a CAGR of 71.1% over the same period to
Rs 78cr in FY2017E. We recommend an Accumulate rating on the stock, with
a target price of Rs 758, assigning a P/E multiple of 17x to its
FY2017E EPS of Rs 44.6", says Angel Broking research report.
Read more at: http://www.moneycontrol.com/news/recommendations/accumulate-styrolution-abs-targetrs-758-angel_1314360.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/recommendations/accumulate-styrolution-abs-targetrs-758-angel_1314360.html?utm_source=ref_article
Outlook and Valuation:
"With the Automobile and Household industry expected to report healthy
growth, which will drive the demand for Styrolution products, we expect
the company to post a revenue CAGR of 12.8% (adjusted for FY2015E) over
FY2015E-17E to Rs 1,508cr in FY2017E. The EBITDA is expected to grow at a
CAGR of 49.2% over FY2015E-17E to Rs 143cr while margins are expected
to rebound to higher single digit levels of 9.5% in FY2017E. The net
profit is expected to register a CAGR of 71.1% over the same period to
Rs 78cr in FY2017E. We recommend an Accumulate rating on the stock, with
a target price of Rs 758, assigning a P/E multiple of 17x to its
FY2017E EPS of Rs 44.6", says Angel Broking research report.
Read more at: http://www.moneycontrol.com/news/recommendations/accumulate-styrolution-abs-targetrs-758-angel_1314360.html?utm_source=ref_article
Read more at: http://www.moneycontrol.com/news/recommendations/accumulate-styrolution-abs-targetrs-758-angel_1314360.html?utm_source=ref_article
