Manali Petrochemicals Receives Upgraded Stock Call from MarketsMOJO, Shows Positive Results in Recent Quarter
Manali Petrochemicals, a smallcap company in the petrochemicals industry, has recently received an upgraded stock call from MarketsMOJO. The stock has been upgraded to 'Hold' on October 28, 2024.The company has shown positive results in the quarter ending June 2024, with a significant growth in PBT LESS OI(Q) at Rs 11.51 crore, which has grown by 373.2%. Similarly, the PAT(Q) at Rs 13.02 crore has also shown a growth of 159.0%. The operating profit to interest ratio is at its highest at 7.89 times.
Technically, the stock is currently in a mildly bullish range, with the technical trend improving from mildly bearish on October 28, 2024. Multiple factors such as RSI, MACD, and KST are bullish for the stock.
However, the company has shown poor long-term growth, with an annual growth rate of -16.75% in operating profit over the last 5 years. The ROE of the company is at 1.9, indicating an expensive valuation with a price to book value of 1.1. The stock is currently trading at a premium compared to its average historical valuations.
In the past year, while the stock has generated a return of -4.65%, its profits have risen by 57%. The PEG ratio of the company is 0.7, indicating a potential undervaluation.
Despite being a smallcap company, domestic mutual funds hold only 0.02% of the company. This could signify that either they are not comfortable with the current price or they have not conducted in-depth research on the company.
Moreover, Manali Petrochemicals has consistently underperformed against the benchmark over the last 3 years. Along with generating a negative return of -4.65% in the last year, the stock has also underperformed BSE 500 in each of the last 3 annual periods.
Overall, while the company has shown positive results in the recent quarter, its long-term growth and valuation may be a cause for concern. Investors may want to hold onto the stock for now and keep an eye on its performance in the future.
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