Ultramarine & Pigments

Stock Opportunities Untested - but worth a good look
137

hi Aashav

this is a great write up! i was trying to figure the following -

  1. who would be Ultramarine’s closest competitors in the surfactants division? on comparing rough realizations of UPL in surfactants on a per kg basis with Galaxy Surfactants, it works out to following - UPL - INR 59 per kg (160 crores / 28000 MT) vs Galsurf’s 114 per kg. have you looked at this?
  2. Do you know how much would the 1,500 MT new pigment capacity contribute to sales?
  3. what % of RM costs would be Alpha Olefin?
  4. if you are ok sharing, what is the source for 13% market share?

thanks a lot!
Umang

138

Today stock closed at all time high with close to 6 lakh share exchange hand in last 4 days. Hopefully the promoter has mostly exited there shares.

disc - invested

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139

They are selling every day 0.01 to 0.05 percentage shares by this figure, hopefully, they would have completely exited by EOM or first week

140

Promoter Selling Update as on 19-09-2021

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141

Can someone please explain what was the rational behind promotors selling shares everyday rather than just selling it at once or maybe in a few transactions?

142

As that would result in a supply demand mismatch, and the share price will come crashing down to hit a lower circuit.

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143

Marcellus newsletter(dated 7th Mar 2022) with focus on Ultramarine & Pigments.

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144

This seems an outdated letter from Marcellus. As per the last update I have, they have completely exited from Ultramarine & Pigments by Q3.

145

Can it be possible for you to share in the forum

Thanks

146

This report is published on March 7 , 2022

147

Promoter shareholding reduction is mainly due to exit of a set of promoters who were NOT running the business. The promoters who are running the business have increased their shareholding.

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148

If anyone can share the AGM recording or/and transcript, it will be very helpful. Cannot attend due to some reason.

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149

Hi anyone have the AGM recording/details? Was not able to attend and the company is not being helpful to provide the same either

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150

Any recent updates about this company?
I can hardly find any concalls, credit reports etc.

151

Any thoughts on why company has not been able to get the expected market cap despite almost similar performance as per expectations ?

152

I believe Promoters don’t have the zeal. Good company, clean promoters but zest is missing.

153

Don’t completely agree since 3rd generation promoters & have done expansion also.

154

I think the company is good, but if you see its sale has a CAGR of 20% for the last 12-13 years but the problem is the bottom line which hasn’t moved more than 5-6%.

Also, the company doesn’t seem to have the advantage of passing the price hike, which can be seen in its stock price.

Pls answer this question, If we see the difference between FY22 and FY23, there has been a difference of around 127Crs in reserves, did they do any huge CAPEX?

The company has made Mr. V Bharathram as MD, how well he will make the company go big and how he will contribute is the question

His LinkedIn ID - https://www.linkedin.com/in/vbharathram/?originalSubdomain=in

155

yup. big capex, almost completed and hence smart money chasing it.

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156

But isn’t that already commissioned? It should have contributed to the revenue already right?

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