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Motilal Oswal Report
Alkyl Amines Chemicals Ltd. reported a miss on our revenue estimate (down 11% QoQ) on account of a dip in volumes by 10% QoQ.
This was largely attributable to lower demand from the pharma and agro spaces during the quarter.
Alternate raw materials purchased by the aforementioned customers (primarily from China) were impacted, due to which overall production remained low.
Raw material prices further increased (~30%) on a QoQ basis, although Alkyl Amines' management expects them to have peaked out.
It also guided that logistical issues may get resolved over the next six months – some relief is already observed with regard to container availability, although freight rates continue to be high for time being.
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