Anmol India shares have emerged as a standout performer in the Indian stock market for 2023, registering an impressive 115% year-to-date rally, soaring from approximately ₹30 to ₹64.25 on the BSE. Despite this robust performance, Profitmart Securities anticipates further upside for the Coal & Metallurgical Coke Supplier and Importer. According to the brokerage’s research report, Anmol India shares could potentially reach ₹87 per share in the long term, reflecting a prospective 35% increase in the value of this small-cap stock.
Profitmart Securities attributes the positive outlook for Anmol India shares to the company’s significant market share in the USA coal market in India, covering almost half of the country’s sales operations. Specializing in supplying high GCV coal, USA coal, Indonesian coal, Saudi pet coke, and USA pet coke—all rigorously quality-tested—the company has garnered praise for its robust business model.
The brokerage underscores the extensive industry experience of Anmol India’s promoters, highlighting the company’s strong business relationships with clients and suppliers. Anmol boasts a growing customer base in key regions such as Gujarat, Punjab, Haryana, Himachal Pradesh, Uttar Pradesh, Uttarakhand, and Chandigarh.
In terms of financial performance, Profitmart Securities notes Anmol India’s strong H1 FY24 results, anticipating a considerably stronger H2FY24. While acknowledging a flatish topline in H1 FY24, the report emphasizes the company’s impressive operational performance, with operating EBIDTA up by 41% YoY and PAT at ₹12.53 crores in H1 FY24—a 24% YoY increase.
Despite an increase in interest costs due to high working capital requirements, Profitmart Securities expresses confidence in a robust future for Anmol India, given the positive outlook on demand driven by industrial growth and increased power consumption in India.
The report sheds light on Anmol India’s business model, emphasizing its proprietary technology platform that facilitates instant communication with clients. The company’s strict policy of stock rotation and focus on optimizing procurement from international markets further contribute to its solid fundamentals.
In conclusion, Profitmart Securities suggests a positive trajectory for Anmol India shares, setting a target price of ₹87 apiece, signaling a continued uptrend for investors.
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