India Pesticides IPO - Track Record Robust; Long-Term Prospects Positive: Anand Rathi
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Anand Rathi Report
India Pesticides Ltd. is a research and development driven agro-chemical manufacturer of technicals with a growing formulations business.
The company is one of the fastest growing agrochemicals company in terms of volume of technicals manufactured.
They have recorded 37.17% year-on-year growth in technicals manufacturing (by volume) between fiscal 2020 and fiscal 2021, reaching more than 75% plant operating rate.
The company manufactured 15,003 million tonnes of technicals in fiscal 2021.
The company 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.
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