Dolat Capital: Initiating Coverage On Sudarshan Chemical - The World Is Their Canvas
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Dolat Capital Report
The 68-year old legacy of manufacturing high performance pigments involving environmental perils has helped Sudarshan Chemical Industries Ltd. become the fourth largest pigment manufacturer globally.
The company’s domestic market share (in organic pigments) stands at approximately 35% as the company boasts of being a leading Azo pigment manufacturer in the country.
It manufactures pigments used in coatings, packaging, inks, plastics and cosmetics. Pigments are a de facto quasi play on a high growing paints and packaging market.
We believe that the consolidation narrative is likely to benefit an Indian company like Sudarshan Chemical.
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