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Subscribe to Heranba Industries: Geojit

Geojit has come out with its report on Heranba Industries. The research firm has recommended to ''Subscribe'' the ipo in its research report as on February 19, 2021.

February 22, 2021 / 09:52 AM IST
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Geojit IPO report on Heranba Industries

Heranba Industries Ltd (HIL), incorporated on July 26, 1996, is one of the leading crop protection chemical manufacturer, exporter and marketing company based out of Vapi, Gujarat. It is one of the leading domestic producers of synthetic pyrethroids (market share of ~20% in 2019) in India. Their pesticides range includes insecticides, herbicides, fungicides and public health products for pest control. HIL currently has 3 manufacturing and packaging facilities in and around the industrial belt of Vapi, Gujarat.

Valuation and Outlook

We assign a “Subscribe” rating for the issue on a long-term basis considering the strong distribution network, increasing export opportunity with healthy margins and profitability.

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