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ICICI Securities Report
We hosted promoters of Tatva Chintan Pharma Chem Ltd. for investors meeting. The management expects growth in structure directing agents to continue, and opportunities are increasing for emission control beyond transport vehicles.
Tatva Chintan should grow faster from new customer wins, and likely supply to developed market for Euro-7. It has cracked products that are high in purity, and has found application in the semiconductor industry.
Supercapacitor batteries are being commercially launched which should drive growth for electrolyte salt. Pharmaceutical and agrochemical intermediates and other specialty chemicals will benefit from the knowledge of continuous flow chemistry, and the company is already in the process of commercialising products.
It has reiterated its sustainable Ebitda margin guidance of 22-24%, and Dahej plant commissioning by November/December 2022.
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