Ambit Private Limited, Axis Capital Limited, BOB Capital Markets Limited, Credit Suisse Securities (India) Private Limited, HDFC Bank Limited, ICICI Securities Limited, IIFL Holdings Limited, IndusInd Bank Limited, Yes Securities (India) Limited
Chemplast Sanmar Ltd (CSL) is a leading specialty chemical manufacturer in India. The company is engaged in the manufacturing of specialty paste PVC resin, starting materials, and intermediates for agro-chemical, pharmaceuticals, agro-chemical, and fine chemical sectors. It also produces other types of chemicals such as Caustic Soda, Chlorochemicals, Hydrogen Peroxide, Refrigerant gas, and Industrial Salt.It has four manufacturing facilities, among which, 3 are situated at Mettur, Berigai, and Cuddalore in Tamil Nadu, and one is located in Puducherry at Karaikal. Sanmar Holdings Limited is the promoter of the company. The Company is a part of the SHL Chemicals Group, which in turn is a constituent of the Sanmar Group, one among the oldest and most prominent corporate groups in South India region. Fairfax India Holdings Corporation (“Fairfax”), a well-known international investor led by Prem Watsa, based in Canada, has invested, through FIH Mauritius Investments Ltd, in the SHL Chemicals Group since 2016.
For year/ period ended ( in Cr.)
|31 Mar 2021||31 Mar 2020||31 Mar 2019|
|Profit After Tax||410.24||46.13||118.46|
The Company proposes to utilise the net proceeds towards funding the following objects:
At the upper of Rs 541, the stock is valued at 18 times P/E multiple. Which is lower than it’s nearest listed peers. After a decade the company is trying to relist its shares with 7.5 times higher valuations. Though the issue appears reasonably priced, it is due to the non-convincing super performance of FY21 and sustainability is a major concern. Hence, investors may consider this IPO for long term perspectives.
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