Flash News Investment - - RECOMMENDATIONS -

{Ticker : 531719 { BUY: ₹418.95 { Tar­get: ₹455

The com­pany is en­gaged in man­u­fac­tur­ing of tech­ni­cal grade in­sec­ti­cides, her­bi­cides and fungi­cides. Over the last six years, it has ex­ported 70 per cent of its pro­duce to coun­tries like Aus­tralia, South Africa, China, Ger­many, Sin­ga­pore, Malaysia, Tai­wan, In­done­sia, Peru, Brazil, etc. In FY18, its rev­enue de­clined as pro­duc­tion Block-III was closed for ten months due to fire ac­ci­dent. How­ever, it has com­menced the pro­duc­tion from March 2018. Azoxys­trobin and chlor­py­riphos are the key prod­ucts which con­trib­ute 50 per cent to­wards to­tal rev­enue. On ac­count of good mon­soons this year, the com­pany is ex­pected to per­form well in FY19. Due to un­cer­tain­ties pre­vail­ing in China re­lated to en­vi­ron­men­tal norms, In­dian pes­ti­cides in­dus­try would ben­e­fit and grow in dou­ble dig­its. Con­sid­er­ing all these fac­tors, we rec­om­mend it as a BUY.

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