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Subscribe to Chemcon Speciality Chemicals: Geojit

Geojit 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 18, 2020

September 21, 2020 / 02:35 PM IST

Geojit's IPO report on Chemcon Speciality Chemicals

Chemcon speciality chemicals Ltd (CSCL), was incorporated on December 15, 1988 at Vadodara, Gujarat, India. CSCL is a leading manufacturer of specialised chemicals such as HMDS (Hexamethyldisilane) & CMIC (Chloromethyl isopropyl carbonate) which are predominantly used in pharmaceutical industry (pharmaceuticals chemicals) and inorganic bromides, predominantly used as completion fluids in the oilfields industry (Oilwell completion chemicals). CSCL’s manufacturing facility is located at Manjusar,Vadodara, Gujarat.

Valuation and Outlook

At the upper price band of Rs340, CSCL is available at P/E of 25.5x on FY20, which is attractive when compared to peers. Considering healthy business performance, regular capacity expansions, strong customer base, expanding margin profile and improving outlook for the sector, we have a ‘SUBSCRIBE’ rating on this IPO.

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