The company controls a majority market share in India and Sri Lanka, with expanding footprint in the US and Europe.
Piramal Glass is one of the four players globally to have type 1 pharma glass capabilities that is used for complex products like liquid injectable drugs, which saw a surge in demand during the coronavirus pandemic.
In the export markets, Piramal is number one globally in manufacturing and supplying nail polish glass (33% volume share) and is the number one in the US in specialty spirits bottles.
The global glass market targeted by Piramal Glass is estimated at $10 billion, growing at CAGR of 3%.
Glass manufacturing facilities are increasingly being shifted from high cost locations in Europe and the US to emerging markets such as India. Also, consumers are replacing plastic containers with recyclable glass bottles.
During fiscal 2020, Piramal Glass recorded a revenue of $293 million. Between FY2017 and FY2020, the company’s revenue grew at a CAGR of 5.3%, while EBITDA increased at a CAGR of 9.7%.
https://www.livemint.com/companies/news/blackstone-to-buy-piramal-glass-for-1-billion/amp-11607677639729.html
Fair value of the share 13.50 LKR....
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