Agro Chemicals Q4 Results Preview - CSM Segment Likely To Lead Sector Growth: Nirmal Bang

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.Our agrochemical coverage stocks are likely to see a mixed trend in Q4 FY23 earnings. Revenue/Ebitda growth and margin expansion may bless some while eluding others. India-focused agrochem stocks may see tempered volume as Rabi sales were not up to expectations in Q4 FY23 as per channel checks. In terms of growth in profit after tax, PI Industries Ltd. will lead our coverage universe with 55.8% YoY growth, while small cap custom synthesis manufacturing peer Anupam Rasayan India Ltd. will be a distant second with 11% YoY growth followed by large cap leader UPL Ltd. with under 1% YoY growth. The rest of the mid cap pack will show a YoY decline in PAT. Soda ash company Tata Chemicals Ltd. is likely to be the worst performer in our coverage universe with 9% YoY decline in PAT. Key lead indicators such as 3.3% YoY growth in Rabi crop area, healthy moisture levels/water storage levels and new launches are positive for Q4 FY23/H2 FY23 prospects for crop protection chemical and nutrients businesses. The carry-over of higher cost inventory may abate compared to Q3 FY23 while the sustained decline in input chemical prices and container freight/shipping rates are tailwinds that could reduce costs and support volume/margin growth..Click on the attachment to read the full report:.Automobiles Q4 Results Preview - Signs Of Growth Moderation Visible In Some Segments: Motilal Oswal.DISCLAIMERThis 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.

Agro Chemicals Q4 Results Preview - CSM Segment Likely To Lead Sector Growth: Nirmal Bang

Sector revenue growth of 10.2% YoY and Ebitda margin of 19% to aid Ebitda/PAT growth of 13.8% YoY/3.4% YoY.

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