India Pesticides Limited | Globe Capital
India Pesticides Limited
Closed
Price Band
Rs. 290 – 296
IPO Issue Period
June 23, 2021 to June 25, 2021
Issue Size
Rs. 800 Cr.
Face value
Rs. 1/-
Fresh issue
Rs. 100 Cr.
Offer for sale
Rs. 700 Cr.
Minimum Shares for Retail
50 shares
Maximum Shares for Retail
650 shares
Listing on
NSE, BSE
Issue Type
Book Building
Tentative Listing Date
5-Jul-21
QIB
Not More than 50% of the offer
NII
Not less than 15% of the offer
Retail
Not less than 35% of the offer
Registrar to the Issue
KFintech Private Limited

Axis Capital Limited, JM Financial Consultants Private Limited

India Pesticides Limited (IPL) is one of the leading agrochemicals manufacturers in India. The company operates in two business verticals; 1 Technicals and 2. Formulations. It manufactures herbicide, fungicide Technicals, and Active Pharmaceuticals Ingredients (APIs). It is the sole Indian manufacturer of several Technicals i.e. Folpet, Thiocarbamate, and Herbicide. The company also manufactures 30+ formulations of insecticides, fungicides, and herbicides. Its technicals are majorly exported to 20+ countries including Australia, Asia, Africa, and European countries, contributed 62% of technical segment revenues in Fiscal 2020. However, agrochemical formulations are primarily sold to domestic crop protection manufacturers i.e. Syngentia Asia Pte Ltd, UPL Ltd, ASCENZA AGRO, S.A., Conquest Crop Protection Pty Ltd, Sharda Cropchem Limited, and Stotras Pty Ltd. Currently, the firm has two manufacturing plants UPSIDC Industrial Area at Dewa Road, Lucknow and Sandila, Hardoi in Uttar Pradesh, India with an installed capacity of 19,500 MT for agrochemicals and 6500 MT for formulations. Anand Swarup Agarwal and the ASA Family Trust are the company promoters.

For year/ period ended ( in Cr.)

31 Mar 2021 31 Mar 2020 31 Mar 2019
Total Revenue 648.95 479.63 340.69
Profit After Tax 134.53 70.8 43.92
EPS 12.07 6.35 3.94
OPM(%) 29.2 21.61 20.73
PATM(%) 20.53 14.46 12.69
  • It is among the top 5 global players of Folpet, Thiocarbamate, and Herbicide Technicals.
  • It has diversified portfolio of niche and quality specialized products
  • Domestic as well as international market presence.
  • Consistent track record of financial performance.
  • Strong Research & Development (R&D) capabilities.
  • To finance the working capital requirements of the company.
  • To meet general corporate purposes.

The company earns 56% of revenue from the export market and 44% of revenue from the domestic market. The company’s overall fundamentals look very attractive. Hence, investor can subscribe to the issue for the medium to long-term.

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