Privi Speciality :Privi Speciality Chemicals is India’s largest and one of the leading manufacturers of aroma and fragrance chemicals in the world.

Privi produces 70+ aroma chemicals which are blended into fragrance

Uses
Daily products like soaps, detergents, shampoos, hand washes and fine fragrance perfumes.
7 Manufacturing Facilities in Maharashtra and Gujarat

1. Opportunity Size
2. Key Points
3. Moat
4. Process
5. Management Track
6. Outlook

Opportunity Size

Global Aroma Market

• USD 5.57 billion in 2022
• USD 8 billion by 2031
• CAGR of 4.1% during the forecast period (2024-2031).

Global Perfume Market

• USD 33.9 billion in 2022
• USD 35.12 billion in 2023
• USD 46.61 billion by 2031
• CAGR of 3.60% during the forecast period (2024-2031).
  ’
  Total Addressable Market Size

Roughly 9400 crores INR.

Key Points

1. Overall Capacity as of 2024 : 48,000 metric tons per annum
2. Privi has backward integration to use waste generated from pulp mills, the crude sulfate turpentine
3. It is the only Company in the developing world and one of the four companies globally to have the technology and the logistics ability to procure these waste products from across the globe
4. It has the largest single CST processing site in the world

What is CST? (crude sulfate turpentine)

Symrise creates sustainable value by transforming by-products

Hi Pragnesh,

I am following your portfolio for months now and I would definitely say that I am impressed with the kind of conviction that you have in your stocks which make you stay invested for this long duration and your plan of holding and never selling. It shows a great character.

Could you please elaborate your reason of buying ICE Make. I am also interested in the stock and would like to understand your thesis on future profitability of this company. For me it wasn’t very clear on apart from continuous panel business how would they grow their refrigeration business. Also why are they are not able to grow in cold chain logistics.

In my line of business I deal with a lot of government owned oil and gas entities and delays in procurement are norm here. Small companies who don’t have leverage, bargaining power and dedicated sales presence struggle with their collection. The smaller the vendor, the more delay they are likely to face with collection.

Go thru the notes attached, the lot size is 400

Very interesting business.
But small M cap and recently listed company.
The number of shareholders is less than 1000.
Any minimum quantity of stocks/ lot size ?