Specialty Chemicals Q2 Results Preview - Cyclical Pain May Aggravate: ICICI Securities

"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..ICICI Securities Report.We estimate its specialty chemical coverage universe’s revenue may dip 12% YoY in Q2 FY24E due to destocking and weak demand. Ebitda is likely to decline 16.7% YoY on weaker spreads and operating deleveraging. SRF Ltd.'s Ebitda to dip 15.4% YoY due to pressure on revenue for ref-gas and fluoro-specialty, partly offset by quarter on quarter recovery in packaging films and technical textiles;Navin Fluorine International Ltd.’s Ebitda (+31%) may benefit from the commissioning of high performance products plant and higher specialty / contract research and manufacturing services revenue;Gujarat Fluorochemicals Ltd.’s Ebitda may decline (-55% YoY) due to lower ref-gas, bulk chemicals revenue and dip in fluoropolymers volume,Clean Science and Technology Ltd. (-17% YoY) is likely to be impacted by lower pricing in performance chemicals segment, but margin may remain healthy. EPL Ltd. (+14.3% YoY) to benefit from lower input prices, Tatva Chintan Pharma Chem Ltd.’s performance may benefit from low base, while structure directing agent sales are likely to be stable, Galaxy Surfactants Ltd.’s volumes may grow; Ebitda/kg may dip marginally, Chemplast Sanmar Ltd.’s Ebitda to benefit from PVC spreads improvement, PCBL Ltd.’s volumes to grow, led by Chennai plant commissioning and a slight dip in gross profit/kg QoQ, Sudarshan Chemical Industries Ltd.’s revenue to benefit from very low base, and margin to improve on lower input cost,Rossari Biotech Ltd.’s Ebitda may grow moderately, and Archean Chemicals Ltd. is likely to see subdued demand in bromine volume; Ebitda may be stable YoY..Click on the attachment to read the full report:.Israel-Hamas War May Not Have Material Impact On Indian Pharma.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."

Specialty Chemicals Q2 Results Preview - Cyclical Pain May Aggravate: ICICI Securities

We estimate its specialty chemical coverage universe’s revenue may dip 12% YoY in Q2 FY24E due to destocking and weak demand.

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Specialty Chemicals Q2 Results Preview - Cyclical Pain May Aggravate: ICICI Securities

We estimate its specialty chemical coverage universe’s revenue may dip 12% YoY in Q2 FY24E due to destocking and weak demand.

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