Chemicals, Mid Cap Q4 Results Preview - Chemicals On The Cusp Of Turnaround: Axis Securities

Axis Securities Report

In Q4 FY24, we expect chemical companies under our coverage to declare sequential revenue improvement, except for commodity player Archean Chemical, as soft demand from end-user industries has led to a drop in prices.

The meaningful recovery for chemical companies will likely take another two quarters. Agrochemicals demand continues to be under pressure, but there are green shoots in certain end-user industries such as dyes, pigments, and polymers, which have witnessed growth in demand and minor improvement in prices of final products.

Chemical companies with strong brands and a consistent track record are seeing traction in custom synthesis manufacturing/contract development manufacturing organisation business opportunities as China +1 and Euro +1 play out.

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