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ICICI Direct Report
We expect a mixed picture for the our chemicals sector in Q4 FY23E as a result of divergent demand conditions across end user sectors. While agrochem, pharma and some specific specialty chemicals players are likely to maintain their growth tempo, we expect a slowdown among packaging, pigments, dyes and polymer players.
Moreover, crude oil prices came off by ~9% QoQ over the course of quarter, which, in turn, may soften the cost of chemicals.
We expect our coverage universe companies to report topline growth of 11.5% YoY. We expect absolute Ebitda of our coverage universe to grow YoY to 12.7%. Bottomline for our coverage universe is expected to report growth of 4.2% YoY.
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