Report
EUR 92.09
For Business Accounts Only
Paradeep Phosphates (PP) is a fertilizer manufacturing company based in India. The firm engages in manufacturing, trading, distribution and sales of a variety of complex fertilizers.
PP has a vertically integrated model with long term agreements for raw material supply stability. Given the volume-dependent nature for growth, PP has also managed to grow its volume sales over the track period, and thus, its topline. The Goa facility acquisition would also add scale and diversification to the firm’s existing product portfolio.
However, while profitability improved, margins have fluctuated over the track period. While subsidies provide some downside risk protection from a raw mat price squeeze, the MRP also limits the firm’s pricing power. PP continues to operate in a fragmented industry and over a longer term period, its business hasn’t done much as well.
Paradeep Phosphates IPO
Paradeep Phosphates is looking to raise up to US$194m in its India IPO. The IPO will consist of a mix of primary and secondary shares.Paradeep Phosphates (PP) is a fertilizer manufacturing company based in India. The firm engages in manufacturing, trading, distribution and sales of a variety of complex fertilizers.
PP has a vertically integrated model with long term agreements for raw material supply stability. Given the volume-dependent nature for growth, PP has also managed to grow its volume sales over the track period, and thus, its topline. The Goa facility acquisition would also add scale and diversification to the firm’s existing product portfolio.
However, while profitability improved, margins have fluctuated over the track period. While subsidies provide some downside risk protection from a raw mat price squeeze, the MRP also limits the firm’s pricing power. PP continues to operate in a fragmented industry and over a longer term period, its business hasn’t done much as well.
Underlying
Paradeep Phosphates
Provider
Aequitas Research
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
Since 2015, we have covered 400+ IPOs and 450+ placements with a hit rate of 73% and 65%, respectively. We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic analysis.
Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis. We also provide a more quant driven analysis on placement/follow-on offerings.
Markets that we cover include:
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Hong Kong,
China ADRs,
India,
Japan,
Australia, and
ASEAN.
Clarence Chu
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