Business Details
IVP Limited is part of Allana Group. Allanan Group bought this Company from TATA Group. It started as vegetable oil company but later forayed into wide range of business.
Below are major products from it
- Polyurethane Systems
- Used in soles of Shoes or Slippers
- Foundry
- Resins / Binders
- Foundry Coatings
- Allied products
- Used in Ferrous and Non Ferrous foundries
- Composite Resins
- Insulation Resins
- Refractory Resins
It has Pan India presence with ware house located in all directions of India (South, East and West except North). Factories of Company is situated in Tarapur near Mumbai and Bangalore.
The combined annual capacity of factories are 50,000 MT per annum catering to the foundry, composites, refractory & insulation industries in India and neighboring countries.
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Stock Performance
Above is long term chart of the Company. As you can see majority of time it has traded below 50 INR mark. The only exception is period 2014 onward when it zoomed past 200 INR due to bull market of India.
The Corona crisis or Covid 19 crisis have impacted it hard eroding all the gains made in last five years. The Company is regular dividend payer. It does look attractive at current levels but remember in mind that price have declined significantly.
My Opinion
IVP Limited serves Foundries and other similar industries. All the products are aimed at similar industry. Refractory industry is saturated industry and there is not too much growth expected int these industries.
Though it is evergreen industry and companies catering these industries will have stable performance over a period of time. they will not appreciate much but will not erode the capital because of regular demand from these industries.
I have not invested in this sector nor am planning to do so. This is business to business (B2B) Company and these companies if able to retain customers and target industry sustains then it has stable performance.