BQ Blue'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 BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Year 2021 was characterised by volatility in crude oil prices with oil moving up by 45% during the calendar year, in turn lifting chemical prices. Since the rise was uneven, there was a lag impact of passing on the entire input price inflation.
We witnessed major volatility in crude during Q3 with crude falling to $65/barrel and then again rebounding to $75-80/barrel by the end of quarter.
Since whole input inflation of H1 FY22 was not passed on entirely to end industries, Q3 can be a key quarter for passing on inflation given that crude had not surpassed this calendar year high. We expect our coverage universe companies to report topline growth of 19.2% YoY, largely driven by realisation growth.
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