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    Insecticides India: Emerging tailwinds a reason to buy

    Thanks to healthy financials, Insecticides India is better positioned than its peers

    Ruchi Agrawal
    June 29, 2020 / 11:36 AM IST
    Insecticides India: Emerging tailwinds a reason to buy

    PRO Only Highlights
    -      Quarterly performance largely backed by improved realisations
    -      Medium-term triggers China plus and protectionist measures for tyre industry
    -      Valuations not inexpensive; but improved medium-term outlook

    Insecticides India (IIL) (CMP: Rs 465; Mcap: Rs 961 crore) reported a weak performance in Q4 chiefly due to steep inventory losses in the ongoing health turmoil. Adverse product mix led to contraction in margins. The company has taken measures to strengthen its balance sheet and aims to be debt free by the end of June 2020. As of March-end, the company had low debt, with a debt equity ratio of 0.2x.  IIL has also sold off its inventory of...

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