Platinum Industries IPO: The Good and The Bad

About the company

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.

IPO details

Post IPO

Financial history

Key ratios

The positives

India's 3rd largest PVC stabiliser maker with a 13% market share in FY23. Growth is driven by rising PVC demand in construction.

The negatives

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 negatives

The company faces intense competition from much larger players, which may hinder growth. Further, the PVC industry is highly cyclical.

Risk report

Is the company's net debt-to-equity ratio less than one? Yes. It is net cash positive as of September 30, 2023.

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