By | 28th February 2018


Target Price Rs. 60       Current Price Rs. 27.20    Upside: 121%

Pasupati Acrylon Limited started commercial operation in the year 1990. The plant was set up in technical collaboration with SNIABPD Italy, part of the famed FIAT group-is the proven world
a leader in the manufacture of acrylic fiber. Pasupati product conforms certification under ISO 9001:2008, this certificate indicates our commitment to meeting global quality and
Pasupati product range is very wide, it has a maximum range of Deniers (0.915.0Denier), Cut lengths (38-150mm) and Luster (Bright, Semi-dull and Gel Dyed). Its products have founded
uses in varying sectors like Sweaters, Shawls, apparels, Blankets, Carpets and Upholster.

By virtue of its excellent product quality and diversified product range, Pasupati has entrenched itself in the global marketplace and our products mainly Fiber& Tow are being regularly exported to countries like China, South America, Israel, Bangladesh, Indonesia, MiddleEast, Turkey & Europe etc.


Acrylic Fibre Market: APEJ Expected to be the Most Lucrative:

Acrylic fiber, commonly used for manufacturing apparels, outdoor furniture, boat covers, awnings,
carpets etc. is a synthetic fiber manufactured in various forms including acrylic staple, tow, and
filament.Major demand for acrylic fiber is expected to come from Asia Pacific, Middle East&Africa,
and Latin America over the period 2016-2026 and the global acrylic fiber market is projected to reach a market value of US$6,197.82 million by 2026 end, registering a CAGR of  3.6% over the forecast period.
Geographically, Asia Pacific region is the largest market of Acrylic Fiber due to growing acrylic fiber
manufacturers because of fewer legislation by environmental regulatory bodies.With rapid

urbanization and changing, lifestyle of consumer along within crease in house hold spending especially in domestic market is expected to drive the market growth in developing regions.


  • Commands 40% Marketshare
  • An anti-dumping investigation concerning imports of ‘AcrylicFibre’, originating in or exported from People’s Republic China, Belarus, Ukraine, EU, and Peru. Thecommerceministry’santi-dumping investigation are Directorate General of Anti-dumping and Allied Duties (DGAD)–prima facie has found “sufficient” evidence of dumping of acrylic fiber from these regions. OnceAnti dumping is imposed profits of Pasupati Acrylon will zoom with a possibility of 60 Cr PAT annually.
  • No new capacities in Acrylic fiber industry added since 15years. Hence, balance tilting in favor of Sellers.
  • Q3PAT ZOOMS 1583%, ie. 11.72 CR V/s 0.72LACS.
  • We estimate EPS of Rs4, for the FY2018 and Target Price of Rs36-40
  • We estimate of EPS Rs 7 (After Antidumping duty is imposed), and TP Rs 60.
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