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EID PARRY INDIA LTDEID PARRY INDIA LTDEID PARRY INDIA LTD

EID PARRY INDIA LTD

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EIDPARRY trade ideas

Is E.I.D. Parry (India) Limited a Good Investment Opportunity?As a trend trading technical expert, I've analyzed the recent earnings conference call of E.I.D. Parry (India) Limited, and I'm excited to share my findings with you. The company's performance in the quarter and year ended March 31, 2024, has raised some concerns, but there are also some positive signs that investors should consider. Global Sugar Market Trends The global sugar supply surplus has decreased by 421,000 metric tons, and the annual growth of global sugar consumption is now estimated at 1.2%. This trend is expected to continue, driven by higher sugar consumption estimates in China and the EU. For India, sugar production has reached approximately 314 LMT, with an additional volume of 5-6 LMT expected from Tamil Nadu and Karnataka. Company Performance The standalone revenue from operations for the quarter ended March 31, 2024, was INR717 crores, registering a decline of 11% compared to the corresponding quarter of the previous year. Earnings before depreciation, interest, and taxes (EBITDA) for the quarter was INR166 crores, and standalone profit after tax was INR80 crores. However, the company's sugar division operating performance was lower due to lower recoveries, higher cane costs, and no exports. The distillery business has also seen a change in product mix due to government policy. On the positive side, the refinery business has grown by 16%, and the spread has improved by $10 PMT, resulting in a cash profit of INR12 crores. Technical Analysis From a technical perspective, the current price of E.I.D. Parry (India) Limited is oscillating around the middle line of a long candle that formed on June 18th. This indicates a consolidation phase, which could be a buying opportunity for investors. Additionally, the price band predicted by the linear regression channel based on volume is showing a positive signal towards the trend. The current CMP (Current Market Price) of Rs.775 is a good entry point for investors who are willing to take a medium-term view. The stock has been trading within a narrow range, and a breakout above the resistance level of Rs.800 could lead to a significant upmove. Key Takeaways Global sugar market trends are favorable: The decrease in global sugar supply surplus and the increase in sugar consumption estimates are positive signs for the industry. Company performance is mixed: While the sugar division operating performance was lower, the refinery business has shown growth, and the company has forayed into the staples space. Cost reduction and efficiency measures: The company has implemented cost reduction and efficiency measures, which have resulted in improved spreads and cash profits. Technical analysis suggests a buying opportunity: The current price is oscillating around the middle line of a long candle, and the linear regression channel based on volume is showing a positive signal towards the trend. Investment Opportunity Based on the analysis, I believe that E.I.D. Parry (India) Limited presents a good investment opportunity for those who are willing to take a medium-term view. The company's exposure to the sugar industry, which is expected to benefit from global trends, is a significant advantage. Additionally, the company's efforts to reduce costs and improve efficiency are likely to pay off in the long run. However, investors should be aware of the company's challenges in the sugar division, including lower recoveries and higher cane costs. They should also monitor the company's progress in the staples space and its ability to resolve certification issues in Europe. Conclusion E.I.D. Parry (India) Limited's recent earnings conference call has presented a mixed bag of results. While the company faces challenges in its sugar division, its exposure to the global sugar market and its efforts to reduce costs and improve efficiency make it an attractive investment opportunity.
NSE:EIDPARRYLong
by stocktechbot
EID PARRY INDIA Freshly Broken 83 Weeks HighCompany has delivered good profit growth of 41.5% CAGR over last 5 years Company has been maintaining a healthy dividend payout of 19.7% Expected diversion for Ethanol in SY 2023-24 is ~ 20LMT of Sugar (against 38LMT diverted in SY 2022-23). Overall blending is 12% as of March’24. E20 petrol is available at 12,000 fuel retail outlets and the government targets a pan-India rollout by 2025. Syrup/B Hy diversion to Ethanol restricted from 7 th Dec 2023 and subsequently on 15th Dec 2023, allowed 17 LMT of Sugar diversion (as B Hy) across the country. Additional 10LMT has been allowed in April’24 for supply in Q3 of FY’25. Maximize and grow the Refined / Pharma Sugar Business • Health and wellness segment has been identified to focus on specialty sweetener business • Focusing on Brown sugar and Jaggery as alternate sweetener • To become a sweetening solutions provider for B2B Customers 1. Packaged staples has a large Total Addressable Market (TAM) of ~ INR 9 L Cr • Highly unorganised with only a few pan-India players 2. Overall branded penetration is less than 20%. • Significant growth expected with consumers preferences shifting towards branded products • Coincides with India’s overall growth and expansion of the consumption class 3. Parry’s brand presence and the strong foundation laid through the sweeteners to be leveraged • To further build on the capability to ‘brand the unbranded’ 4. Aspiration to capture >10% of the kitchen shelf in every household in South India The Company made a pioneering leap towards community water resource management projects through its flagship Project NANNEER • Under the first phase, seven lakes and ponds in Oonaiyur area (Pudukkottai and Sivagangai district in TN) were desilted across 250 acres (depth of 1-3 meter) • Under the second phase, twelve lakes and ponds (in the Cuddalore, Tiruppur, Villupuram and Erode districts in TN) were desilted across 127 • The excess desilted soil was utilized to create islands in each of the water bodies. Close to 1100 Million Liters were conserved in Phase 1 and 2. • Currently third phase being planned in TN, KN and AP. • The Company aims to achieve Ten Billion liters of water holding capacity through Project NANNEER by the end of 2026. Increase in Cash Fixed Cost in FY’24 majorly due to: • Manpower capability building for project expansion and new business • CPG infrastructure building • Special repairs undertaken in major plants Lower cane volume by 1.7 LMT over last year further contributed to the increase in CFC/MT Increase in cane cost, drop in recovery & yield due to climatic conditions, restriction in sugar diversion for ethanol has led to drop in EBITDA. The benefits on expansion of distillery capacities are expected to flow in FY’25
NSE:EIDPARRYLong
by iism-ExpertTrading
SWING IDEA - EID PARRY INDIAExploring the technical landscape, our focus shifts to Eid Parry India - a stalwart in the agribusiness sector. Let's delve into the pivotal factors shaping this enticing scenario. Reasons are listed below : Eid Parry India has revisited the critical level of 630, marking its all-time high, and is now positioned to potentially break through this significant barrier. A robust bullish marubozu candle on the weekly timeframe signals strength and conviction, reinforcing the bullish sentiment surrounding the stock. Following a resilient consolidation phase lasting over a year, Eid Parry India is indicating signs of a breakout, adding an extra layer of potential momentum. The formation of higher highs underscores the stock's upward trajectory, highlighting the persistence of a positive trend. Increased volume activity aligns with recent price movements, amplifying the potential impact of the stock's upward momentum. Trading above both the 50-day and 200-day Exponential Moving Averages (EMAs), Eid Parry India demonstrates a solid trend, providing additional confidence for a potential swing trade. Target - 733 // 815 StopLoss - weekly close below 558 DISCLAIMER - Decisions to buy, sell, hold or trade in securities, commodities and other investments involve risk and are best made based on the advice of qualified financial professionals. Any trading in securities or other investments involves a risk of substantial losses. The practice of "Day Trading" involves particularly high risks and can cause you to lose substantial sums of money. Before undertaking any trading program, you should consult a qualified financial professional. Please consider carefully whether such trading is suitable for you in light of your financial condition and ability to bear financial risks. Under no circumstances shall we be liable for any loss or damage you or anyone else incurs as a result of any trading or investment activity that you or anyone else engages in based on any information or material you receive through TradingView or our services. @visionary.growth.insights
NSE:EIDPARRYLong
by Visionary_Growth_Insights
Analysis of EIDPARRY1. Support at Rising Trendline: The candle on the weekly chart indicates that the stock has found support at a rising trendline. This signifies a potential area of increased buying interest, reflecting a positive sentiment. 2. RSI Signals: The Relative Strength Index (RSI) is displaying positive divergence and showing good support. Positive divergence might indicate a potential shift in momentum and could support the bullish case for the stock. Proposed Trade Strategy: Entry: Considering a long position at the current market price (CMP) of 492, based on the support from the rising trendline and the positive RSI indications. Stop Loss (SL): Implementing a stop loss at 453 can serve as a safeguard against adverse price movements and potential losses. Target: A target price of 562 is suggested. This target is aligned with the bullish signals identified from the rising trendline support and the positive RSI divergence. Conclusion: The technical analysis suggests a bullish outlook for EIDPARRY based on the candle finding support at the rising trendline and the RSI showing positive divergence. Please remember that investing in the stock market carries inherent risks. Market conditions are subject to change, and it's essential to conduct thorough research, employ risk management strategies, and consider seeking guidance from a financial advisor before making any investment decisions.
NSE:EIDPARRYLong
by yaashul
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NSE:EIDPARRYLong
by iBullVentures
Eid Parry trying to parry out of tough timesE.I.D. Parry (India) Ltd. is engaged in the business of Sugar and Nutraceuticals. The company is amongst the leading sugar manufacturers in India, E.I.D. Parry’s 9 sugar plants are spread across South India. It is also a part of the INR 369 Billion Murugappa Group, one of India’s leading business conglomerate. E.I.D. Parry (India) CMP is 480.70. Negative aspects of the company are declining annual net profits, promoter decreasing stake, FIIs are decreasing stake and MFs are decreasing stake. Positive aspects of the company are no debt and improving cash from operations annual. Entry after closing above 488. Target of the call will be 507 and 546. Long term targets in the stock will be 584 and 629. Stop loss in the stock should be maintained at closing below 435.
NSE:EIDPARRYLong
by Happy_Candles_Investment