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Ekansh Mittal

Jun 13, 2024 • 12 tweets • 7 min read • Read on X

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Agrochemical is an important industry for India as we have the largest population to feed to

Last 2 yrs were bad for industry with pricing challenges and excess supply from China

Many stocks are down 50% from highs...have they bottomed out

Some industry details👇

(1/n)

Agrochemicals are chemical substance used in agriculture to enhance crop production, protect crops from pests, diseases and weeds and promote agricultural productivity

It refers to pesticides, including fungicides, insecticides, herbicides, and nematicides

(2/n)

Types of Agrochemicals:

Pesticides-Includes fungicides, insecticides, herbicides and nematicides & others.

Fertilizers- Nitrogen, Potassium, Phosphorus etc

Others- Biopesticides, Plant growth regulators, Soil Conditioners, Defoliants and Desiccants etc.

(3/n)

Forms of Agrochemicals:

- Technical Grade: It refers to the purest form of an "Active Ingredient" in an agrochemical product

- Formulations: These are prepared by blending (AI's) with various additives, solvents, and other ingredients to create ready to use product

(4/n)

Key raw materials and dependency on imports

- India heavily depends on imports (around 50%) for many of these raw materials, with China being a significant supplier

- Key raw materials includes intermediates like phosphorus, sulfur and various petrochemical derivatives

(5/n)

Key Agrochemicals Companies in India

Indian - UPL, Dhanuka, PI Industries, Rallies India, Insecticides India, Crystal Crop Protection, Bharat Rasayan, Coromandel Int

Global - Syngenta India, Bayer, Corteva, Agriscience, BASF, Sumitomo Chemical, FMC, Monsanto

(6/n)

India Agrochemical Market size is estimated at $8.22 billion in 2024, and is expected to reach $13.08 billion by 2029, growing at CAGR of 4% during forecast period (2024-2029)

The global agrochemicals market was estimated at $253.29 bn in 2024

Top Export Countries👇

(7/n)

According to the latest data released by the WTO,
India has emerged as the 2nd largest exporter of agrochemicals in the world

The rank was sixth, 10 years ago

India is growing as a Leaders in Innovation to Reduce Manufacturing Cost

(8/n)

Demand for agrochemical products is influenced by several factors:

- Agricultural Practices
- Population Growth
- Pest and Disease Pressure
- Crop Diversity
- Technological Advancements
- Government Policies and Regulations
- Climate Change
- Upcoming off Patent

(9/n)

Challenges for the Agrochemical and Crop Protection Industry:

- Regulatory Compliance
- Resistance and Pesticide Tolerance
- Environmental Concerns
- Consumer Awareness
- Availability and Cost of Raw Materials
- Crop Resistance
- Competition
- Cyclical Business

(10/n)

Sources Referred:

expertmarketresearch.com/reports/india-…
mordorintelligence.com/industry-repor…
careratings.com/uploads/newsfi…
blueweaveconsulting.com/report/india-c…
theindustryoutlook.com/manufacturing/…
mordorintelligence.com/industry-repor…
apps.fas.usda.gov/opendataweb/ho…
maximizemarketresearch.com/market-report/…
theindustryoutlook.com/services-and-c…
straitsresearch.com/report/agroche…
grandviewresearch.com/industry-analy…
mordorintelligence.com/industry-repor…

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More from @EkanshMittal_KW

Ekansh Mittal

@EkanshMittal_KW

Jun 23

Was looking at Suyog Telematics

It is one of the leading telecom infrastructure provider

Stock is down 50% + from Dec'24 highs...decided to look at it and the industry

Here's a detailed thread on telecom infra industry with lots of charts and data

(1/n)

India's telecom sector, primarily landline voice until early 90s, rapidly evolved. Mid-90s saw wireless mobile services, followed by 2000s' tech boom with MMS, video calling, and internet services: OTT, IoT, and VoIP

Key Segments under Indian Telecom Sector 👇

(2/n)

What are telecom tower companies?

Telecom tower companies build, own and operates telecom towers and provide passive infrastructure to Mobile Network Operators under lease agreements 10-15 years for anchor tenants, ~5 years for others with penalties for early exit

(3/n)

Read 12 tweets

Ekansh Mittal

@EkanshMittal_KW

May 26

Was recently reading about Symphony...probably the most well known brand in air-coolers space

Stock has returned almost 0 return in last 10 yrs

Few interesting developments are happening so decided to look at Air-coolers industry

Here's a🧵with lots of data and charts

(1/n)

What is Air Cooler?

Also known as an evaporative cooler or swamp cooler, is a low-cost, eco-friendly cooling appliance that cools air through evaporation of water

It is widely used in hot and dry climates, especially in regions where AC may be too expensive

(2/n)

Air cooler works on the principle of evaporative cooling:

1. Water is added to tank

2. Cooling pads soak up water

3. A fan pulls in hot, dry air

4. As air passes through the wet pads, it cools through evaporation

5. The cool, moist air is then blown into the room

(3/n)

Read 8 tweets

Ekansh Mittal

@EkanshMittal_KW

Apr 30

BOPP & BOPET are key flexible packaging films with many listed cos.

BO films industry is facing overcapacity...while volumes are good...oversupply has suppressed prices

Stocks are down and some promoters bought from open market🧵

Research desk -

(1/n) katalystwealth.com

What are Biaxially Oriented (BO) Films?

BO Films are polymer films stretched in both machine and transverse directions during production, enhancing tensile strength, clarity, barrier properties, and dimensional stability

Types of Biaxially Oriented Films (2/n)

Flexible packaging BO films are produced by melting and extruding polymers, then stretching the film biaxially for enhanced properties

Multiple layers can be coextruded for combined benefits. Film is cooled, treated for printability, and cut into rolls for packaging use

(3/n)

Read 10 tweets

Ekansh Mittal

@EkanshMittal_KW

Apr 21

Was looking at Apcotex Industries which I think is the only domestic producer of nitrile & high styrene rubber and 70% demand is met through imports

The company deals in synthetic rubber and synthetic latex

Here's a short 🧵with lots of charts and data on industry

(1/n)

a) Synthetic rubber is man-made elastic material used in tires, seals, and industrial goods

b) Synthetic latex is liquid emulsion used in coatings, adhesives, and gloves

Both belong to polymer family, specifically elastomers

(2/n)

Are Synthetic Rubber and Synthetic Latex the same ? No,

# Same raw materials? → Yes (often)

# Same process? → No, latex is made via emulsion polymerization, rubber is processed into solids

# Main difference? → Form (liquid vs solid) and end-use

(3/n)

Read 8 tweets

Ekansh Mittal

@EkanshMittal_KW

Mar 18

After recent fall, certain Sugar stocks are looking interesting

Decided to look at Sugar industry in India in detail

Here's a short🧵

Did You Know?

In India, sugar mills cannot grow their own sugarcane. They rely entirely on farmers for sourcing sugarcane

(1/n)

Sugar is a carbohydrate that provides energy and is naturally found in plants like sugarcane, sugar beets, fruits, and dairy

Sugar is a simple carbohydrate composed of carbon (C), hydrogen (H), and oxygen (O)

(2/n)

Sugar Manufacturing Process:

# Harvesting
# Transportation to Sugar Mills
# Crushing
# Clarification
# Evaporation
# Crystallization
# Centrifugation
# Drying and Packaging

In short, crushing the sugarcane, removing impurities & water, and forming crystals

(3/n)

Read 11 tweets

Ekansh Mittal

@EkanshMittal_KW

Mar 3

Did you know Tyres in 2W-4Ws have wires inside them?

Was recently looking at Rajratan Global wire which makes such bead wires used in Tyres

Stock is down from peak of 1,300 to 300 now

Bead wires improve rim grip, air retention and durability

Here's a🧵on Bead wires

(1/n)

What is Tyre Bead Wire?

Tyre Bead wire is steel wire made of high-carbon steel whose surface is plated with brass or bronze

Main function of bead wire is to hold tyre on the rim and to resist the action of the inﬂated pressure, which constantly tries to force it off

(2/n)

Bead wire is the crucial link through which vehicle load is transferred from rim to the tyre, which prevents vibration during driving

It signiﬁcantly affects the safety, strength and the durability of tyres

Tyre bead wire is used in all kinds of automobile tyres

(3/n)

Read 11 tweets

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