Look at the PE
Completely agree with you on the arsenal side, but still it is no specialty, their only edge is that they are looking at 100% import substitution but even Chlorotuolene is being captured by Aarti Industries and ECH by Grasim, so competition is also coming there.
And I really hope that you’re right but I would not let go of risks that this investment comes with and that is the parent company has issues dealing with fire and their might be some part of DNA here as well and when you look at the cash cycle specifically for its biz with MOL, it is stretched by approx. 1.5x of what is it at the company level. And plus it is no specialty. As of now, the roadmap to specialty comes from tuolene chemistry and I hope it works out, it would save me from studying a new company to invest in.
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