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Feb 28 ā€¢ 17 tweets ā€¢ 4 min read
Yasho Industires Analysis !!

A detailed thread below šŸ§µ
About Yasho -

Yasho manufactures performance chemicals for industries such as rubber, latex, food & flavour, perfumes, lubricants and other speciality applications since 1993.
Q3 Numbers -

In Q3FY22 revenue were at Rs166cr, an increase of 71% YoY
EBITDA at Rs 28cr, up by 82% YoY
PAT at Rs 15cr, up by 129% YoY
Yasho's Clientele -

Yasho serves more than 2000 clients globally.

Some of their clients are:-
Manufacturing Capacity -

Yasho has a total manufacturing capacity of 11000mtpa & they have added 1800mtpa in the last 6 months.

The plants are strategically located within 200kms from Nhava Sheva sea port.

All the plants are designed to be 'multipurpose' giving them advantage
Global Certification -

Global certifications acts as an entry barrier in large exports market.

Yasho has registered 35 products for REACH to increase business opportunity in European region
Products overview of Yasho:-

šŸ’  Aroma chemiclas - 14% revenue contribution
šŸ’  Food antioxidant - 13% "
šŸ’  Rubber chemicals - 36% "
šŸ’  Speciality chemicals - 24% "
1. Aroma Chemicals:-

- Market leader for clove oil & it's derivatives.

- Fatty esters & natural essentials/aroma oils cater to personal care products such as cosmetics, toiletries, oral care, mouthwash etc.

- Revenue in this segment growing at 16.6% CAGR since last 5years.
2. Food Antioxidants:-

- YANTQ brand of synthetic antioxidants is used in food stuff, it enhances the food nutrition content & keeps it fresh.

- Also used in animal feed, vitamin pre-mixes & nutraceuticals.

- Revenue in this segment growing at 3.4% CAGR since last 5 years.
3. Rubber Chemicals:-

- Used to manufacture rubber products like tyre, auto components like hoses, seals, conveyor belts, surgical gloves, condoms etc.

- Revenue in this segment grew at 21% CAGR in last 5 years
4. Speciality Chemicals:-

- Products used as stabilisers for acrylics, printing ink, URP resin, fibre composite resin, intermediate for API, bulk drugs & agrochem.

- Revenue in this segment grew at 12.6% CAGR in last 5 years.
Yasho's Investors:-

Promoters - 74.1%
Public - 25.9%

Superstar investor @LuckyInvest_AK sir holding 2.36%
Key risks:-

- Business requires certain approvals & lisences to operate, failure to obtain. retain/renew such approvals may affect business.

- Business operations subject to various health & safety laws & regulations. Failure to comply with those laws may affect operations.
- Company faces competition from various domestic & international companies like Camlin Fine Science, SH Kelkar, Nocil, BASF, Eastman etc.
Conclusion:-

Global inflationary trends and a sharp rise in commodity prices may continue to put
pressure on Yasho's margin. As a result, it has raised prices in 4QFY22 as well.
However, it is difficult to forecast margin due to the inflationary and volatile
pricing environment
As its presence in the domestic & export market has been improving, the management is
optimistic about its growth prospects.

Long term story remains intact as demand for all their products will increase considerably.
Plz like, comment & retweet if you find this usefull šŸ™

@AimInvestments @saketreddy @LuckyInvest_AK @drprashantmish6

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