Laxmi Organics IPO bidding will begin on March 15, 2021. Before the offer opens, let’s look at all the critical pointers associated with the proposal.
Laxmi Organic is a leading producer of acetyl intermediates and specialty intermediates with two manufacturing units in Mahad, Maharastra. The company is almost three decades old. Over the years, it has steadily increased its footprints across geographics, exporting its products to over 30 countries, including China, Netherlands, the US, UK, and the United Arab Emirates. The company has several MNC clients and shares long term relationships with most. Laxmi Organic remained the largest exporter of ethyl acetate in FY20.
On the financial front, the company posted a cumulative turnover of Rs 1396.08 crores in the last three FYs from 2018 to 2020. During the first six months of FY 21 that ended in September 2020, it earned a net profit of Rs 45.48 crores against a turnover of Rs 814.36. In the last three fiscals, Laxmi Organic posted an average EPS of 2.90 and an average RoNW of 16.94 percent.
Laxmi Organic has listed peers like Aarti Industries, Fine Organic, Navin Fluorine, Rossari Biotechand SRF with P/E of 45.16, 33.01, 62.14, 29.22, 71.02, and 42.26, respectively. Against industry average, Laxmi Organic has a P/E of 37.68. The company’s current paid-up capital is Rs 48.12 crores, which will stand enhanced to Rs 52.73 crores post-IPO.
Market specialists asked investors to ‘subscribe’ to Laxmi Organic IPO as a long-term bet.
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