Gujarat Fluorochemicals Q4 Results Review - New Age Projects To Commercialise In FY24E: Centrum Broking

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Centrum Broking Report.Gujarat Fluorochemicals Ltd.’s Q4 performance was largely in line with our expectations. Bulk chemicals performance was impacted due to plummeting Chlor-Alkali realisations/ ECU which was made up by fluorochemicals segment, supported by both volumes and prices. Doubling of fluoropolymers capacity is underway with benefits accruing from Q2FY24E. During FY23, exports accounted for over 60% (49%) of revenues due to rising contribution from fluoropolymers. Gujarat Fluorochemicals’ FY24E capex plan has been further enhanced to Rs 15.0 billion versus Rs 12.5 billion earlier with two-third capex on fluoropolymers and battery chemicals. Management reiterated that guarantees to group companies have further reduced during the quarter and are expected to dissolve in current year. FY23 was a robust year for Gujarat Fluorochemical with pricing benefits coupled with volumes, leading to highest ever Ebitda margins. We believe that FY24E performance to be in transition due to margin moderation along with new projects commissioning. Accordingly, we have tweaked our estimates and rolled over our valuations to FY25E..Click on the attachment to read the full report:.Gujarat Gas — Intense Competition From Propane Is On: Prabhudas Lilladher.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Gujarat Fluorochemicals Q4 Results Review - New Age Projects To Commercialise In FY24E: Centrum Broking

Best ever performance in FY23.

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