Meghmani Organics Ltd

I am also curious why markets love MFL and treat MOL as an ugly duckling. MFL is also commodity Chem. It cannot be promoter history. Perhaps I am assuming MFL products have a less seasonal and more predictive perhaps domestic demand pattern. Perhaps something that imports cannot compete with. MOL has a higher export exposure, high agchem seasonality and mostly postpatent chemicals that may lose if China opens up.

Note that currently MOL AgChem is benefitting from seasonal tail winds, esp in the Americas. I am a shareholder in UPL and UPL is also showing the effects of these tailwinds (UPL has its own set of issues).
MOL agchem products are postpatent, I would love to hear from others what their moat is. MOL is bold

In pigments, titania was a bold move as an import substitution, enjoys demand predictability.


Agree, market is ignoring this company for quite some time, maybe because of past CG issues. TiO2 foray is not a small thing and the way india is progressing to become a major supplier of agrochem, company is rightly placed. I am expecting 900 Cr EBITDA by FY25 and basis the multiple one considers is fair for the company, the expected return can be quite handsome.

Per their CEO, they are confident that by 2025, they can achieve a top line of Rs 4,500 crore and the EBITDA is likely to be around Rs 765 crore and this compares to around Rs 2,500 crore run rate last year and a PAT figure of around Rs 170 crore.