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.
Nirmal Bang Report
We expect our chemical stocks to enjoy healthy growth in topline and earnings in Q1 FY23, barring large cap global crop protection chemical major UPL Ltd., which will see 34% YoY growth in profit before tax getting dented due to higher tax expense versus the tax write-back in Q1 FY22.
This is despite the sustained increase in aggregate input cost for the sector (37.4% up YoY) and energy costs (brent/domestic gas up 62.1%/240.8% YoY). Key pointers:
UPL sees a potential hit of 1.1% on revenue due to an adverse impact on its entire Ukraine sales and 50% Russian sales in Q1 FY23; we also expect Indian rupee depreciation to result in mark to market loss in its fx loan,
Coromandel International Ltd.'s phosphatic fertilizer business is getting government support under ‘nutrient based subsidy' pegged to March 2022 input prices.
Click on the attachment to read the full report:
DISCLAIMER
This 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.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.