Investing in the stock market can be a tricky game, especially when it comes to the chemical sector. However, with the right research and analysis, investing in the right chemical stocks can prove to be a profitable venture. In this article, we will take a closer look at the top 3 chemical stocks to invest in 2023, namely NOCIL, Super Crop Safe, and Ganesh Benzoplast.
NOCIL:
NOCIL, which stands for National Organic Chemical Industries Limited, is a leading manufacturer of rubber chemicals in India. The company has a market capitalization of over INR 2,000 crores and has seen steady growth in its share price over the past few years. In the stock market today, NOCIL share price is trading at around INR 205 per share.
One of the main reasons to consider investing in NOCIL is the growing demand for rubber chemicals. With the increasing use of rubber in various industries such as automotive, construction, and consumer goods, the demand for rubber chemicals is expected to rise in the coming years. NOCIL’s strong presence in the domestic and international markets makes it well-positioned to capitalize on this growing demand.
Another factor that makes NOCIL a good investment option is its strong financial performance. The company has consistently delivered strong revenue growth over the past few years, with a CAGR of 17% from 2016 to 2020. In addition, the company has maintained a healthy EBITDA margin of around 20% over the same period.
Super Crop Safe
Super Crop Safe is a leading manufacturer of agrochemicals in India. The company produces a range of agrochemicals, including insecticides, fungicides, and herbicides. Super Crop Safe’s products are used in the agriculture sector to protect crops from pests and diseases.
Super Crop Safe’s revenue and profits have been growing at a healthy rate. In FY21, the company’s revenue increased by 36% YoY, while its net profit increased by 86% YoY. The company’s strong financial performance has also led to an increase in its share price. As of March 29, 2023, the Super Crop Safe share price is Rs4.7
The demand for agrochemicals is expected to increase in the coming years due to the growing population and the need to produce more food. Super Crop Safe is well-positioned to take advantage of this trend. The company has a strong product portfolio and is focused on innovation to develop new and improved products. Super Crop Safe is also expanding its distribution network to reach more customers.
Ganesh Benzoplast
Ganesh Benzoplast is a leading manufacturer of specialty chemicals in India. The company produces a range of specialty chemicals, including plasticizers, solvents, and resins. Ganesh Benzoplast’s products are used in various industries, including paints, coatings, and adhesives.
Ganesh Benzoplast’s revenue and profits have been growing steadily over the years. In FY21, the company’s revenue increased by 22% YoY, while its net profit increased by 30% YoY. The company’s strong financial performance has also led to an increase in its share price. As of stock market today, the Ganesh Benzoplast share price is Rs161.
The demand for specialty chemicals is expected to increase in the coming years due to the growing demand for high-performance materials. Ganesh Benzoplast is well-positioned to take advantage of this trend. The company has a strong product portfolio and is focused on innovation to develop new and improved products. Ganesh Benzoplast is also expanding its global footprint and has recently set up a subsidiary in the US.
In conclusion, investing in the stock market can be a daunting task, but with the right research and analysis, it can prove to be a profitable venture. The chemical sector is an important part of the stock market, and it offers numerous investment opportunities. The three chemical stocks, namely NOCIL, Super Crop Safe, and Ganesh Benzoplast, are the top picks for investing in 2023.
