Sunidhi Securities initiated coverage with a buy rating on Meghmani Organics. In an interview to CNBC-TV18, Ashish Soparkar, MD of Meghmani Organics spoke about the latest happenings in his company and sector.
Company has biggest presence in blue and green pigment in the world and is exporting to 75 countries in pigments, which has multiple usage from ink, plastic, rubber and paint etc.
For pigment business, we may exceed our target of Rs 575 crore for the year FY18, he said.
We believe that in three-four years, all our divisions pigment, agrochemicals and basic chemicals to touch Rs 1,000 crore individually, he added.
In agrochemical section, we are relatively mid-level player. For pigments, we are one of the global leaders in blue and green, said Soparkar.
On capital expansion, he said that for basic chemicals the company has already announced capex which will take the company to around Rs 800-1,000 crore turnover. For agrochemicals and pigments so far no capex is announced but we are into very advanced stages of setting up some plans for it, he further mentioned.
Margins will be definitely going up as we ramp up more capacity as our cost is practically fixed except from variable cost, Soparkar said.
For full interview, watch accompanying video...
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