Meghmani Finechem high volume breakout
アップデート済
1. Buy or Sell at your own risk
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula:- Stop Loss Amount/(Buy Price-Initial Stop Loss Price)
4. Sell on initial stop loss hit or daily RSI closing below 40
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
After consolidation since October 2021,
MFL has given a high volume breakout today. Buy with a stop at ₹1000.
Other fundamentals:
1. Meghmani Finechem Limited (MFL) is part of the Ahmedabad-based Meghmani Group. It was incorporated in September 2007 as a subsidiary of Meghmani Organics Ltd (MOL) but was demerged in April 2021. The company is primarily engaged in manufacturing and selling of Chlor Alkali & its Derivatives with backward and forward integration facilities and also engaged in trading of Agrochemical products.
2. MFL is the fourth largest amanufactururer of Chlor-Alkali and its Derivatives company in India. The company manufactures -
a. Chloralkalis: Caustic Soda Lye and Flakes, Liquid Chlorine, Hydrogen, Caustic Potash Lye and Flakes, etc.
b. Derivatives:The company has Chlor-Alkali Derivatives in the form of Chloromethanes and Hydrogen Peroxide.
3. The Company’s manufacturing complex is located in a 60-hectare facility in Dahej (Gujarat). The Company possessed the following capacities as of March 31, 2021:
~4th largest capacity of Caustic Soda at 2,94,000 TPA
~2nd largest capacity of Caustic Potash at 21,000 TPA
~3rd largest capacity of Chloromethanes at 50,000 TPA
~3rd largest capacity of Hydrogen Peroxide at 60,000 TPA
~ The company, in the second year of operations of the Chloromethanes plant, achieved 100% capacity utilization (FY 2020-21).
~The overall production of the company increased from 179 KTA in FY 2019-20 to 302 KTA in FY 2020-21, recording 70% growth.
4. The company's products are used in industries like Refinery, Paper & Pulp, Soaps & Detergents, Textiles, Dyes & Pigments, Pharma, Agro-Chem, Paints & Coatings, Alumina, Pesticides, etc.
5. The company is setting up the EPC and CPVC Resins plants which are expected to be commissioned by FY 2022 and 2023 respectively.
a. Epichlorohydrin (ECH): Initiated in the Dahej plant, MFL will become the first manufacturer of Epichlorohydrin in India. The project will have a capacity of 50,000 TPA and will be based on TechnipFMC’s Epicerol technology. Once operational, it would be the first plant in India to run on 100% renewable resources.
b. Chlorinated polyvinyl chloride (CPVC): The Company announced the setting up of the Chlorinated Polyvinyl Chloride (CPVC Resin) project in Dahej with a capacity of 30,000 TPA. The total cost of the project would be Rs.190Crs.
6. Quarter sales growth at 90%, quarter profit growth at 184%, TTM sales growth at 89% and TTM profit growth at 128% (December 2021).
7. Average ROE for the last five years at 25%.
8. March quarter results are due on 25th April.
2. Don't risk more than 1%-2% of your capital as stop loss
3. Position Size formula:- Stop Loss Amount/(Buy Price-Initial Stop Loss Price)
4. Sell on initial stop loss hit or daily RSI closing below 40
5. Some other ways to sell stocks can be
a. 25% or 50% up in three weeks or less
b. Weekly tailing tops with high volume
c. Exhaustion gaps
d. Heavy daily volume without further upside
e. Largest one day price drop
After consolidation since October 2021,
MFL has given a high volume breakout today. Buy with a stop at ₹1000.Other fundamentals:
1. Meghmani Finechem Limited (MFL) is part of the Ahmedabad-based Meghmani Group. It was incorporated in September 2007 as a subsidiary of Meghmani Organics Ltd (MOL) but was demerged in April 2021. The company is primarily engaged in manufacturing and selling of Chlor Alkali & its Derivatives with backward and forward integration facilities and also engaged in trading of Agrochemical products.
2. MFL is the fourth largest amanufactururer of Chlor-Alkali and its Derivatives company in India. The company manufactures -
a. Chloralkalis: Caustic Soda Lye and Flakes, Liquid Chlorine, Hydrogen, Caustic Potash Lye and Flakes, etc.
b. Derivatives:The company has Chlor-Alkali Derivatives in the form of Chloromethanes and Hydrogen Peroxide.
3. The Company’s manufacturing complex is located in a 60-hectare facility in Dahej (Gujarat). The Company possessed the following capacities as of March 31, 2021:
~4th largest capacity of Caustic Soda at 2,94,000 TPA
~2nd largest capacity of Caustic Potash at 21,000 TPA
~3rd largest capacity of Chloromethanes at 50,000 TPA
~3rd largest capacity of Hydrogen Peroxide at 60,000 TPA
~ The company, in the second year of operations of the Chloromethanes plant, achieved 100% capacity utilization (FY 2020-21).
~The overall production of the company increased from 179 KTA in FY 2019-20 to 302 KTA in FY 2020-21, recording 70% growth.
4. The company's products are used in industries like Refinery, Paper & Pulp, Soaps & Detergents, Textiles, Dyes & Pigments, Pharma, Agro-Chem, Paints & Coatings, Alumina, Pesticides, etc.
5. The company is setting up the EPC and CPVC Resins plants which are expected to be commissioned by FY 2022 and 2023 respectively.
a. Epichlorohydrin (ECH): Initiated in the Dahej plant, MFL will become the first manufacturer of Epichlorohydrin in India. The project will have a capacity of 50,000 TPA and will be based on TechnipFMC’s Epicerol technology. Once operational, it would be the first plant in India to run on 100% renewable resources.
b. Chlorinated polyvinyl chloride (CPVC): The Company announced the setting up of the Chlorinated Polyvinyl Chloride (CPVC Resin) project in Dahej with a capacity of 30,000 TPA. The total cost of the project would be Rs.190Crs.
6. Quarter sales growth at 90%, quarter profit growth at 184%, TTM sales growth at 89% and TTM profit growth at 128% (December 2021).
7. Average ROE for the last five years at 25%.
8. March quarter results are due on 25th April.
ノート
Results update: -Revenue up 18.2% QoQ at Rs 498.8 cr
EBITDA up 23.9% QoQ at Rs 175.11 cr
EBITDA Margin at 35.11% vs 33.48% QoQ
PAT up 42.1% QoQ at Rs 99.08 cr
ノート
MFL up by another 5%. It will give another buying opportunity if price comes down to the support zone of ₹1040 and ₹11110. First buy call given on April 20th.
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