Angel Broking has come out with its report on Chemcon Speciality Chemicals. The research firm has recommended to ''Subscribe'' the ipo in its research report as on September 19, 2020
Angel Broking's IPO report on Chemcon Speciality Chemicals
Chemcon Speciality Chemicals is a manufacturer of specialised chemicals, such as HMDS and CMIC which are predominantly used in the pharmaceuticals industry and inorganic bromides, namely Calcium Bromide, Zinc Bromide and Sodium Bromide, which are predominantly used as completion fluids in the oilfields industry. In FY 2020, ~40% of their revenue came from export (including deemed exports). For FY 2020, revenue contribution from pharmaceutical chemicals and oilwell completion chemicals was 63.8% and 33.5% respectively.
Valuation and Outlook
As we are positive on the future outlook for the industry as well as the company, we would recommend to “Subscribe” issue for long term as well as for listing gains.
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