Subscribe to India Pesticides: Ajcon Global
Ajcon Global has come out with its report on India Pesticides. The research firm has recommended to ''Subscribe'' the ipo in its research report as on June 23, 2021.
June 25, 2021 / 02:34 PM IST
Ajcon Global IPO report on India Pesticides
India Pesticides Limited (“IPL”) was incorporated on December 13, 1984. IPL is an R&D driven agro‐chemical manufacturer of Technicals with a growing Formulations business. IPL is the fastest growing agro‐chemical companies in India in terms of volume of Technicals manufactured. The Company has witnessed 37.17% year‐on‐year growth in Technicals manufacturing (by volume) between Fiscal 2020 and Fiscal 2021.
Valuation and Outlook
At the upper end of the price band of ₹296, the Company's IPO is valued at P/E multiple of 25x on FY21 earnings which looks decent as compared to Industry Average ‐ P/E of 35x. We recommend to "SUBSCRIBE" the issue for listing gains.
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