Strong debut for the speciality chemicals company Clean Science and Technology. The company shares debuted at Rs 1,784 apiece versus an issue price of Rs 900 per share, a gain of close to 100 percent.
Siddhartha Sikchi, promoter & executive director, Clean Science and Technology said 35 percent of their revenues come out of exporting to China market, which is a very competitive market.
“I am sure this will give investors total confidence that the processes which we have developed are most competitive as we are exporting to one of the most competitive countries, which is China,” he said.
On the other hand, the company gets only one raw material imported from China.
Currently, they have cash of Rs 250-260 crore on the books. Sikchi said going forward they have capex plans of around Rs 300 crore in the next two to three years and all the capex would be done through internal accruals.
When asked what FY22 and FY23 revenue growth would look like for the company, Sikchi said, “I would avoid giving forward-looking statements but incremental 20-25 percent growth that we have done over the past few years, that the company should easily see going forward.”For the entire interview, watch the accompanying video