Arrow Coated signs pact with Spanish firm

Careli SA is manufacturing a wide range of products, including liquid formulations for fabric washing, automatic dish washing and surface cleaning. This collaboration is perceived to be win-win for both corporations, a company statement said.

BSE-listed Arrow Coated Products Ltd  today said it has entered into an agreement with Spanish firm Careli SA for supply of chemicals and technology, required for commercial success of Arrow Care's Klenz brand of cleaning products.

Careli SA is manufacturing a wide range of products, including liquid formulations for fabric washing, automatic dish washing and surface cleaning. This collaboration is perceived to be win-win for both corporations, a company statement said.

Neil Patel, Director of Arrow Coated, who has signed the agreement, stated: "Arrow, being a premium manufacturer of water soluble films (WSF), saw an opportunity to push this economically viable solution for the Indian market, which will be welcome by Indian citizens and our 'Swachh' (Clean India) vision.

"The development of the right quality of WSF which is compatible with Careli chemistry is the key to this project". Elisabet Jordà, CEO of Careli, said that Arrow Coated, being one of the leading manufacturers of water soluble films, was consistently patient in developing the right solution for a big and emerging country like India. Arrow knows the market and we have the manufacturing skills so our collaboration fits perfectly.

We are confident that with our chemistry and Arrow's branding of Klenz, we will be successful in giving a run to the big multi-national players in this market, as we have done in other markets, Jordà said.

Arrow's manufacturing unit at Ankleshwar in Gujarat is engaged in manufacturing of biodegradable water-soluble film, Security Thread.

Arrow Coated stock price

On December 24, 2014, Arrow Coated Products closed at Rs 488.70, up Rs 23.25, or 5.00 percent. The 52-week high of the share was Rs 488.70 and the 52-week low was Rs 24.95.

The company's trailing 12-month (TTM) EPS was at Rs 4.60 per share as per the quarter ended September 2014. The stock's price-to-earnings (P/E) ratio was 106.24. The latest book value of the company is Rs 16.16 per share. At current value, the price-to-book value of the company is 30.24.

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