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22.09.2019

AAKASHAYA PATRA EXCLUSIVE STOCK FOR INVESTMENT:
MEGHMANI ORGANICS LTD
(CMP 57)
 ENTER LEVEL – 50 TO 54 STOPLOSS 44 TARGET 120-150 IN 18-24 MONTHS

Incorporated in 1986, Meghmani Organics Limited manufactures, sells, and distributes pigments and pesticides. The company operates in three divisions: Pigments, Agrochemicals, and Basic Chemicals. The Pigments division offers phthalocynine green 7, copper phthalocynine blue, alpha blue, and beta blue pigments that are used in various applications, including printing inks, plastics, paints, textiles, leather, paper, and rubber. The Agrochemicals division engages in the manufacture and sale of technical, intermediates, and formulations of insecticides, fungicides, and herbicides, which are used in crop protection, public health, termite and insect control, and veterinary applications. It offers its formulations primarily under the Megastar, Megacyper,Megaban, Synergy, and Courage brand names. The Basic Chemicals division manufactures caustic chlorine and caustic potash, which are used by the agriculture sector, industry, and directly by the consumers.It offers its products to customers through direct sales teams and distributors/agents in North America,Europe, Central and Latin America, and the Asia Pacific. It exports its products to 75 countries. It is also involved in trading activity. It has 7 manufacturing facility in Gujarat. Company is amongst top 3 global Phthalocyanine based pigment players, one of the largest producers of pesticides in India. It is 4th largest caustic-chlorine player in India and one of the lowest cost producers of caustic soda in India.

t has an equity capital of just Rs.25.43crore supported by reserves of around Rs.978.17crore. The promoters hold 50.76% & FIIs hold 2.65% while other investing public hold 46.27% stake in the company.Promoters increased their stake by 0.45% in last 3 quarters which is positive sign.Currently, the stock trades at a P/E of just 6x. It has paid 100% dividend for FY19. Its recent high rate was Rs.129.4 which was formed in November 2017. Stock almost corrected 56% from recent high.Recent development: Meghmani Finechem Ltd. - a Flagship Company of Meghmani Group has decided to foray into and would like to announce setting up of project of Epichlorohydrin, capacity 50,000 tonnes per annum which will be based on Technip FMC's EPICEROL® technology. The project will be setup with Capex of around Rs. 275 Cr. and is expected to generate revenue of approximately Rs.460 Cr per annum
at optimum operating rate.

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