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IDBI Capital Report
We met the management of Laxmi Organic Industries Ltd., to discuss the business prospects of the company.
Laxmi Organics primarily manufactures ethyl acetate, acetic acid and diketene derivatives. It is ranked first in production of acetyle (capacity 232 kilo tonne) and speciality intermediaries in India.
The company is on the verge of commissioning two projects – fluorination and specialty intermediaries (likely to be commissioned in H2 FY23).
Currently, specialty intermediaries contributes 35-40% to its sales while fluorination is a relatively new business area for Laxmi Organics.
Going ahead, the company's capital expenditure will be mainly towards these two businesses (Rs 7 billion over FY23-24). It targets sales mix to improve in favor of specialty intermediaries and fluorochemicals.
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