India Pesticides Ltd. share price target

Capacity addition and product launches to drive growth

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

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...

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...

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...

IPO Note

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...

India Pesticides Limited (IPL) was incorporated on December 13, 1984. IPL is an R&D driven agro-chemical manufacturer of Technicals with a growing Formulations business. IPL is the fastest growing agro-chemical companies in India in terms of volume of Technicals manufactured. In Technicals company manufacture Fungicide Herbicides Technicals for the export market and on Formulation side