India Pesticides IPO - Strong Growth Aspects, Robust Financial: Motilal Oswal
A farmer sprays fungicide in a field of rice on farmland near Sirsa, Haryana. (Photographer Prashanth Vishwanathan/Bloomberg)

India Pesticides IPO - Strong Growth Aspects, Robust Financial: Motilal Oswal

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Motilal Oswal Report

India Pesticides Ltd. is the sole Indian manufacturer of five technicals and among the leading manufacturers globally for captan, folpet and thiocarbamate herbicide, in terms of production capacity.

Both technicals and formulations portfolio are well diversified among fungicides/herbicides/insecticides along with active pharmaceutical ingredients (10% of revenue); thus de-risking its business model.

The company derives 57% (FY21) of its revenue from exports while top 10 customers also contribute 57% of sales.

Global agro-chemicals market is expected to grow at 7% compound annual growth rate to $86 billion by 2024.

Of this technicals/formulations are expected to grow at 6%/7% CAGR.

Click on the attachment to read the full report:

Motilal Oswal India Pesticides IPO Note .pdf

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