Tatva Chintan Q1 Review - Near Term Pressure In SDAs; Working On Multiple Opportunities: Nirmal Bang

Tatva Chintan Q1 Review - Near Term Pressure In SDAs; Working On Multiple Opportunities: Nirmal Bang

<div class="paragraphs"><p>Chemical solutions sits inside a R&amp;D facility. (Source: freepik)</p></div>
Chemical solutions sits inside a R&D facility. (Source: freepik)

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Nirmal Bang Report

Tatva Chintan Pharma Chem Ltd.’s Q1 FY23 Ebitda came in ~29% below our estimate on account of higher-than-expected pressure in structure directing agents revenue and forex loss of ~Rs 50 million.

SDA revenue contribution fell significantly to ~7% in Q1 FY23 versus ~52% in Q1 FY22. Revenue (ex-SDA) grew by ~60% YoY wherein all the sub-segments namely, phase transfer catalysts, pharmaceutical and agrochemical intermediates and other specialty chemicals and electrolyte salts grew significantly.

SDA sales were affected by semiconductor issues, geopolitical situation in Europe and extended lockdowns in China due to Covid-19 outbreak. The management expects significant improvement in SDA sales from Q4 FY23 onwards.

Click on the attachment to read the full report:

Nirmal Bang Tatva Chinatn Pharma Chem ltd -Q1FY23 Result Update-25 July 2022.pdf


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