Heranba Industries IPO - Investment Rationale: ICICI Direct
A worker fumigates avocado trees to protect them from mites. (Photographer: Mariana Greif Etchebehere/Bloomberg)

Heranba Industries IPO - Investment Rationale: ICICI Direct

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Direct Report

Heranba Industries incorporated in 1992, is an agrochemical company. It is also one of the leading domestic producers of synthetic pyrethroids.

The company is present in the entire product value chain of the agrochemicals industry.

The business verticals include (a) domestic bulk sales of Technicals (31.6% of FY20 sales), (b) technicals bulk exports (36.5%) (c) branded formulations (12.7%), (d) formulations exports (12.8%) and (e) insect control chemicals (6.4%).

Heranba has more than 9,400 dealers having access to multiple states in India.

Click on the attachment to read the full report:

ICICI Direct Heranba IPO Review.pdf

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