Platinum Industries is India's 3rd largest PVC stabiliser maker by sales. It had a 13% market share in FY23. PVC stabilisers protect PVC from decaying & oxidation.
India's 3rd largest PVC stabiliser maker with a 13% market share in FY23. Growth is driven by rising PVC demand in construction.
Its revenue is concentrated. The top 3 clients accounted for 75% of its total revenue as of Sep 2023. It generates 54% of its revenue from western India.
The company faces intense competition from much larger players, which may hinder growth. Further, the PVC industry is highly cyclical.
Is the company's net debt-to-equity ratio less than one? Yes. It is net cash positive as of September 30, 2023.