Joindre Capital's research report on Kesar Petroproducts
Kesar Petroroducts Limited (KPL) was established in 2010 (incorporating the business of Shreyas Intermediates Limited) and was promoted by Mr. Dinesh Sharma. KPL is among the leading Indian manufacturers of Phthalocyanine Blue Crude and downstream products. KPL is presently a leading manufacturer of Phthalocyanine Blue Crude and its downstream products in India and contribute upto 15% of the entire Copper Phthalocyanine market of India enjoying a global presence in 15 countries. Within the Pignmebts product basket KP has a product Capacity (MTA) of CPC Blue Crude of 18,000 tpa, Alpha Blue 2,400 tpa & Beta Blue 3,600 tpa. In Dye intermediates it makes K - Acid 840, Gamma Acid 360, Vinyl Sulphone 1,200 and Sulpho VS 600. KPL has its plant located at Lote Parshuram in Maharashtra.
Outlook
Hence we believe that the KPL stock should be purchased at the current price for a price target of around Rs 80 over the next 12 to 18 months.
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