Sir I feel that most investors are awaiting their chemical resins plant capex to come onstream. Environmental Clearance has finally come, so it will take a year for the chemical plant to commercialize. Resins is high margin and ROCE, it’s a moat. Order inflow is strong so expect the water treatment segment to do well. Really wish they hived off the consumer biz which is a drag. If we look at numbers on a 2 year forward basis from here, I think the stock is at a slight premium and definitely a hold and by no means a buy at CMP.
Va Tech Wabag new CEO seems enterprising and I am bullish on their growth prospects. Valuations are favourable too in comparison to Ion.
Disc – My firm has recommended both Ion and Va Tech Wabag under our service. Va Tech Wabag is a part of our smallcase so I am biased.
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