We are pleased to inform you that our Hidden Gem stock of Jan'15 - Plastiblends India Ltd (BSE Code: 523648, NSE Code: PLASTIBLEN) has given absolute returns of more than 100% to our Hidden Gems members within period of 12 months. Our team suggested Buy on Plastiblends India Ltd at price of Rs. 236.70 on 31 Jan'15 with a target price of Rs. 480. Target was already achieved in January this year, Plastiblends India stock made its 52 week high of Rs. 523.80 on 5th Jan'16 and yesterday closed at Rs. 458 giving as on date returns of 93% to our Hidden Gems members.
Plastiblends India has good consistent profit growth of 23.7% over 5 years, growth prospects of the company look bright with ongoing expansion plan.
Considering good demand and growth potential, the company is going through a Capex programme by increasing its manufacturing capacity. Company has successfully commenced commercial productoin in the new manufacturing unit at Palsana, Surat effective 25th March 2016. Moreover, considering market potential and demand, Plastiblends India plans to further increase the manufacturing capacity and has acquired land near Kolkata, West Bengal to set up a new manufacturing unit and intends to fund the same largely through internal accruals.
1. Company Background:
- Plastiblends India
- Clariant Chemicals
- Poddar Pigments
2. Recent Developments: (as on 31 Jan'15)
i) Plastiblends to double capacity by 2015 - Dec'13
Plastiblends India Ltd will double its manufacturing capacity by this year. Along with some nominal expansions that will take place at its existing plants that are situated in Daman in Western India and Roorkee, Uttarakhand, the company is setting up a new manufacturing unit.
- 70% at current market price of 236.70
- 30% at price range of 190-210 (in case of correction in stock price in near term)
To Read / Download Saral Gyan Hidden Gem - Jan'15 Research Report - Click Here
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