NDTV Profit'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 NDTV Profit's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Nirmal Bang Report
As per industry sources, India crop protection chemical sector may see a tempered performance in Q2 FY25 QoQ, due to reports of excess inventory, pricing pressure and stock returns amid excess supply from China.
One small cap CPC company is reported to have cut growth guidance for FY25.
Our agro-chemical coverage companies are likely to report YoY decline in Q2 FY25 results - barring Sumitomo Chemical India Ltd. which will buck the trend with 38.8% YoY growth in PAT – lead by 20% topline growth and margin expansion.
CSM major PI Industries Ltd. is also likely to see 17% profit before tax growth – but PAT growth will likely be muted due to higher tax rate, as export benefits at Jambusar site are lower YoY.
In UPL, we see weak topline/margins amid weak prices offsetting volume growth in the U.S., persistent Chinese dumping and de-stocking. UPL's India sales are likely remain subdued due to the internal efforts to improve collections.
We expect weak Soda Ash prices to offset volume growth in Tata Chemicals, and see YoY hit on Coromandel's Nutrient segment from the year-ago peak.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. NDTV Profit 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 NDTV Profit.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
