Coromandel International, part of the $3.8-billion Murugappa Group, is acquiring 42.22 per cent stake in Gujarat-based crop protection products company, Sabero Organics, for about Rs 250 crore.Coromandel will make an open offer to acquire another 31 per cent stake from shareholders of Sabero, taking the total deal size to between Rs 400 and Rs 450 crore. It will fund the acquisition entirely from internal accruals. The company is acquiring the 42.22 per cent promoters' stake in Sabero at Rs 160 a share.
With the acquisition, Coromandel will be competing with major players such as Bayer's and United Phosphorous in the Rs 8,000 crore domestic crop protection products market, which is growing at 10-12 per cent annually. The combined turnover of Coromandel in the plant protection products segment will be Rs 1,000 crore, after the acquisition.
Sabero, which produces a variety of fungicides, herbicides, insecticides and speciality chemicals, clocked a turnover of Rs 413 crore last fiscal, with exports contributing Rs 220 crore. It is setting up a Rs 75 crore plant in Dahej for production of Synthetic Pyrethroids that have a strong export potential — the facility is likely to be ready by this fiscal. Sabero exports about 60 per cent of its production and has four subsidiaries in Brazil, Argentina, Australia and Europe. It also has 240 registrations for its key products in 50 countries.
crackcrack
| Company Name | CMP |
|---|---|
| National Fertilizers | 117.80 |
| Coromandel Interntl. | 1948.30 |
| Chambal Fert & Chem | 502.10 |
| RCF | 180.90 |
| Paradeep Phosphates | 123.00 |
| View more.. | |
MoneyWorks4Me rating and ranking of funds for SIP is available to subscribers only. Moneyworks4Me is not a rating and ranking agency, however it is required that users have a way of selecting funds and building a Portfolio. The method used by it are described below to enable users to understand the logic behind the rating and ranking Subscriber will find more details on this in the various content made available from time to time. In case you need more please write to besafe@moneyworks4Me.com
MoneyWorks4Me rates and ranks mutual funds based on the following data-driven system:
Funds ranking in screeners: Performance Consistency and Quality are two parameters used for ranking funds for SIP. The ranking as follows GG, GO, GR, OG, OO, OR, RG, RO and RR.
With the same color-coded funds, the one with the higher Average 3-year rolling returns (over 5 to 10 years), the number that appears in the Performance tag, ranks higher.
Here is the summary:
The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
Make an informed decision for Stocks
Invest using an intelligent system with powerful data-driven tools that help you identify opportunities and make informed buy-hold-sell decisions
Buy quality Stocks when they are available at reasonable prices and supported by an upward price trend and Sell when they are Overvalued using the Decizen Rating System. Covers 3500+ stocks
Limited to the first 10 users today!
Practical Stock Investing Hand Book
By - Raymond Moses
Founder of MoneyWorks4Me | Consultant | Trainer | Author | TEDx Speaker
Register & Get Instant Access!Don't miss out! First 10 users today get it FREE
With this 4 hrs Masterclass, you’ll be able to:
Download APP
