Stock Name : Chemcon Speciality Chemicals Ltd/Tips Open Buy : 488.30 Posted Date : Oct 9, 2020
Stopless/Horizon : 463.89 Target : 561.55 Results Achieved (Yes/No) :

Overview: Chemcon Speciality Chemicals limited was incorporated in 1988. The company isinvolved in manufacture of Pharmaceutical intermediates and Oilfield Chemicals. Its current market capitalisation stands at Rs 1987.95 Crore.

About the company: Chemcon Speciality Chemicals limitedis based in Vadodara, Gujarat.The company has been manufacturing specialty chemical for more than three decades and has established itself as a reliable supplier of specialty chemicals, these products are used in end user industries such as Pharmaceutical, oil exploration and refining.

CSCL derives 25-30% of its revenue from exports, the company exports to following 11 countries, USA, Russia, China, Spain, Japan, Germany, UAE, Thailand, Malaysia, South Korea and Serbia and hence exposed volatility in foreign exchange rates.

Chemcon Speciality Chemicals is the only manufacturer of HMDS in India and was the third largest manufacturer of HMDS worldwide in terms of production (2019). The company was the largest manufacturer of CMIC in India and the second largest manufacturer of CMIC worldwide (in terms of production and capacity in calendar year 2019). In 2019, CSCL was the only manufacturer of Zinc Bromide and the largest manufacturer of Calcium Bromide in India.

CSCL has manufacturing facility in Savli District, Gujarat. The company plans to set up two more plants for the manufacture of pharma chemicals (capex of Rs 41.1 crore), which would increase its capacity from 375KL to 626KL (operational by FY22 end).CSCL’s key customers (pharmaceutical chemicals) include Hetero Labs, Laurus Labs, Aurobindo Pharma and IndSwift Laboratories.

Management: Mr. Kamal Kumar Aggarwal is the Chairman & Managing Director of the company.

Sales Report:In the latest quarter, CSCL has posted a gross sale of Rs. 262.05 Crore and Total Income of Rs.266.02 Crore and the Profit after tax (PAT) was 48.85 Crore.

IPO:The company made an IPO in September 2020. It offered a fresh issue of equity shares, aggregating up to Rs 165 crore and offer for sale of up to 45,00,000 equity shares. The company plans to raise Rs 318 crore from this.

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