Scripscan:Rhodia Specialty Chemicals India Ltd
cmp:370
Code:506230
Story:Formerly known as Albright And Wilson Chemcials,Rhodia Specialty Chemicals is related to Rhodia’s Novecare business, serving markets in home & personal care, industrial formulations, paints and coatings as well as oilfield chemicals.It operates a plant at Roha (Maharastra),located 140 km south-east of Mumbai, producing surfactants for the home care, personal care and agrochemical markets. Employing about 130 people, it has sulfonation, sulfation and sulfuric acid units.The latest facility, that came on stream in 2009, increases sulfation capacity on this site and produces surfactants for the domestic and export markets.Its state of the art technology assures high quality products and support Rhodia’s growth in the region.The stock has been volatile over the pase few days after three Solvay group firms- Solvay Participations France S.A.S, Solvany S.A. and Solvay Finance France S.A made an open offer to collectively acquire 6.75 lakh equity shares in the company at Rs.386.72/share.Being near to the market price,the stock price was battered down by disappointed traders.The company has turned around in Q2CY11. It reported net profit of Rs.53 lakh v/s net loss of Rs.2.66 crore in Q2CY10. Its 68% rise in net sales was impressive at Rs.64.35 crore. In Q1CY11 too it had a net loss of Rs.1.30 crore. So in that sense its second quarter was very good. Q3 also promises to be good thus once the market gets over the discounted open offer price, maybe the fundamentals will come into the fore.The equity base is very tiny at Rs.3.38 crore.Hold it at present levels.
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