Nocil Q3 Review - Impressive Growth Commentary: Prabhudas Lilladher
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Prabhudas Lilladher Report
We increase our volume assumptions on Nocil Ltd. but lower our margin estimates and accordingly FY21-23E estimates increase by 7-14%.
Demand environment improved in domestic and international markets, given strong tyre demand coupled with improving pricing environment augurs well for the space.
The company with new capacities commissioned is poised to benefit from recovery in auto demand.
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