Platinum Industries Ltd IPO

The company has grown to become a multi-product manufacturing company with sales across India and in international markets. It has built its business organically and has demonstrated consistent growth in terms of revenues and profitability. Revenue from operations has grown from Rs. 891.41 million in Fiscal 2021 to Rs. 2,340.56 million in Fiscal 2023, registering a CAGR of 62.04% in the last three fiscal years.

The company’s product portfolio is customised for the customers and scale for each of the geographies served. The diversified product portfolio helps the company retain customers and strengthen cross-selling efforts across product portfolios. For Fiscal 2023, 2022 and 2021, the PVC stabilisers product segment generated revenues of Rs. 1,191.12 million, Rs. 775.95 million and Rs. 520.41 million, representing about 50.89%, 42.09% and 58.38% of its total revenue from operations for the respective periods.

Barriers to entry in the specialty chemical industry are typically high. The specialised nature of products leads to significant differentiation. R&D requirements, technical know-how, capital intensity service capabilities, customer relationships, and engineered or regulated specifications also create important barriers to entry. Although these barriers are not homogeneous across the industry, most specialty chemical companies reap the benefits of one or more of them (Source: CRISIL Report).