Great article Rahul. Your video is also pretty detailed. Way to go. Appreciate if you can keep updates flowing on the origianl thesis. Here is what I found in Jan'25 concall.
100kt ABS capacity which was due for FY28 is now pre-poned. 50kt (50%) will be online in FY26. Balance will be ahead of schedule (FY27 is my assumption). On polysterene, they are upping the capacity forecast from 65kt to 100kt and with an outlook of taking it to 150kt.
Nicely written. The way you analyzed was also very thorough. INEOS seems to be shifting its manufacturing to China to remain competitive - probably a reason for sale ?. A question though - Why would you value it using a book value multiple?
Hi, Thanks so much for the input. Just a shorthand for a cyclical business. There is no reason to think that is fully accurate or the only way to think or valuations.
Great article Rahul!
Thank you Mahin 🙏🏽
Great article Rahul. Your video is also pretty detailed. Way to go. Appreciate if you can keep updates flowing on the origianl thesis. Here is what I found in Jan'25 concall.
100kt ABS capacity which was due for FY28 is now pre-poned. 50kt (50%) will be online in FY26. Balance will be ahead of schedule (FY27 is my assumption). On polysterene, they are upping the capacity forecast from 65kt to 100kt and with an outlook of taking it to 150kt.
Hello, thank you so much. Will get back to you on this. Thanks
FYI I recently drove past the panipat refinery on NH44. It stinks like anything. Next time I’ll go checkup on the styrene plant :)
Regarding this comment:
Panipat (City of Carpets) : Smell may be due to NFL (Fertilizer Plant) near to NH-44 Highway , Panipat Refinery is far more interior from highway.
Could be.
Nicely written. The way you analyzed was also very thorough. INEOS seems to be shifting its manufacturing to China to remain competitive - probably a reason for sale ?. A question though - Why would you value it using a book value multiple?
Hi, Thanks so much for the input. Just a shorthand for a cyclical business. There is no reason to think that is fully accurate or the only way to think or valuations.