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KRChoksey Research Report
Laxmi Organic Industries Ltd.'s revenue reported at Rs 8,599 million (up 97.4% YoY / up 41.4% QoQ) which is well above our estimates of Rs 7,622 million.
The growth was backed by higher volumes and increased realisations of acetyl intermediates and improved product mix performance in specialty intermediates.
The gross profit reported at Rs 3,081 million (up 85.5% YoY / up 122.3% QoQ). The gross margins stood at 35.8% (down 231 bps YoY / up 1304 bps QoQ) due to high cost of goods sold.
Laxmi Organics' resumption in specialty intermediate business operations post flood restoration and strong demand from international markets has boosted profitability for the quarter.
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