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Europe and RoW impacted by weather issues UPL reported lower than expected results with topline growth of 9% to Rs 85 bn (PLe Rs 87 bn) led by 6%/2%/1% volumes/realisations/exchange impact. India/ LatAM/ NAFTA business grew by 27%/ 24%/ 19% while Europe/RoW business declined 11%/14% YoY due to weather related issues. Net debt was higher by Rs 25.5 bn QoQ @ Rs 214.7 bn due to higher working capital, which...
UPLL reported a muted operating performance despite gross margin expansion, weighed by higher fixed costs (+10% YoY) and logistic costs. The gross margin expansion was attributable to a better product mix as well as realization, partially offset by higher raw material cost. In 1QFY22, the...
Dhanuka Agritech reported largely inline set of results. 3% decline in revenue to Rs 3.6 bn (PLe Rs 3.4 bn) was driven by slower offtake in North (down 12%) & East (down 3%). Gross margin contracted by 54 bps to 33.7% (PLe 36%) due to high cost inventory and difficulty to pass on input cost inflation due to low demand as a result of deficit rainfall. DAGRI has robust pipeline of 10 new products will drive growth for the next 2 years. The company has also started working on its technical manufacturing plant at Dahej for backward...
India Pesticides Limited IPO Note Issue Open: June 23 June 25, 2021 Price Band: Rs. 290 296 *Issue Size: 27,027,027 eq shares (Fresh issue of 3,378,378 eq sh (Rs.100cr) +offer for Sale of 23,648,649 eq sh (700cr) Issue Size: Rs.800 cr Reservation for: QIB Upto 50% eq sh Non Institutional atleast 15% eq sh Retail Upto 35% eq sh
We recommend subscribe to India Pesticides Limited (IPL), a niche play in manufacturing of pesticides technical (79% of rev) and formulation (21%). Our positive stance emanates from 1) it is the sole manufacturer of 5 technical in India and leading manufacturer of certain molecules like Captan, Folpet and Thiocarbamate herbicide and 2) none of its technical molecules are classified under Red triangle. IPL reported a topline/EBITDA/PAT CAGR of 38%/67%/75% over FY19-21. we expect growth momentum to sustain led by 1) 6-8 molecules to be commercialized at its new 10000 MTPA capacity...
We recommend subscribe to India Pesticides Limited (IPL), a niche play in manufacturing of pesticides technical (79% of rev) and formulation (21%). Our positive stance emanates from 1) it is the sole manufacturer of 5 technical in India and leading manufacturer of certain molecules like Captan, Folpet and Thiocarbamate herbicide and 2) none of its technical molecules are classified under Red triangle. IPL reported a topline/EBITDA/PAT CAGR of 38%/67%/75% over FY19-21. we expect growth momentum to sustain led by 1) 6-8 molecules to be commercialized at its new 10000 MTPA capacity...
IPL has 2 distinct operating verticals, namely, Technicals and Formulations. The APIs the company manufacture have antiscabies and anti-fungal applications. They have recorded 37.17% year-on-year growth in Technicals manufacturing (by volume) between Fiscal 2020 and Fiscal 2021, reaching more than 75% plant operating rate. IPL manufactured 15,003 MT of Technicals in Fiscal 2021. IPL is the sole Indian manufacturer of 5 Technicals and among the leading manufacturers globally for Captan, Folpet and Thiocarbamate Herbicide, in terms of production capacity. The company diversified into manufacturing herbicide and...
Incorporated in 1984, India Pesticides is one of the fastest growing agrochemicals companies in India with key focus on manufacturing agrochemical technicals and formulations. Over the years, it has diversified into manufacturing herbicide and fungicide technicals and active pharmaceutical ingredients. The company has two manufacturing facilities in UPSIDC Industrial Area at Dewa Road, Lucknow and Sandila, Hardoi in Uttar Pradesh, spread across over 25 acres. As of March 31, 2021, the aggregate installed capacity of manufacturing facilities for agro-chemical...
India Pesticides Ltd. (IPL) is an R&D; driven agro-chemical manufacturer of technicals with a growing formulations business. It is one of the fastest growing agro-chemical company in terms of volume of technicals manufactured. Company has recorded 37.17% year-on-year growth in technicals manufacturing (by volume) between FY20 & FY21, attaining more than 75% plant operating rate. IPL is the sole Indian manufacturer of five technicals and among the leading manufacturers globally for Captan, Folpet and Thiocarbamate...
