Chemical Sector

DCM Shriram Ltd, which is into chemicals, sugar, bioseed and fertiliser businesses, on Friday reported a marginal decline in its December quarter consolidated net profit to Rs 342.09 crore. Its net profit stood at Rs 349.57 crore in the year-ago period. Total income rose 21 per cent to Rs 3,417.06 crore during October-December quarter of this fiscal from Rs 2,815.95 crore in the corresponding period of the previous year. During the April-December period of 2022-23 financial year, the net profit rose to Rs 724.17 crore from Rs 664.94 crore a year ago. Total income rose to Rs 9,324.75 crore in the first nine months of the current fiscal from Rs 7,039.67 crore in the corresponding period of the previous year. Ajay Shriram, Chairman & Senior Managing Director, said the company has reported another consistent quarter of robust performance with positive/stable outlook across all the businesses. "The operating environment is very challenging globally. Russia-Ukraine conflict does not ..

Kotak Institutional Equities believes that Q3 for speciality chemicals will be a mixed bag, with weak earnings from most players in the crop protection space

Shalvis Specialities has received environmental clearance for setting up manufacturing plant of agrochemicals & intermediates, API ingredients & intermediates and fine chemicals manufacturing unit.

The stock hit a high of Rs 476 and a low of Rs 440.2 on NSE; firm's IPO was subscribed 32 times

Analysts believe overall growth was mainly led by volume scale up and price hike while favourable product mix and currencies would also have contributed to growth.

The company is witnessing rise in demand from end-user industries such as food processing, personal care and home care in the specialty chemicals market.

Export ramp-up and import substitution are key triggers

With the focus of both the Central as well as State Governments on water connectivity and distribution, the company expects demand for the PVCO pipes to be robust.

In Q1FY23, Fineotex Chemicals reported 167 per cent YoY growth in EBITDA at Rs 26.20 crore, while margin expanded 381 bps YoY to 19.3 per cent.

The performance for the quarter was largely led by improved soda ash realisations across all geographies, which led strong top line growth for the quarter, said ICICI Securities.

The stock rallied 12 per cent to hit a record high of Rs 1,254.60 on Friday's intra-day trade. That apart, the stock bounced back 70 per cent from its June 21, 2022, low of Rs 736.30.

The company reported a 3.3-fold jump in Q1 net profit at Rs 435.66 crore, following which the stock has rallied smartly in the last seven trading sessions.

Company has increased capex for the business to tap into new opportunities

Gujarat Polysol Chemicals and construction and hospitality firm PKH Ventures have received capital markets regulator Sebi's go ahead to raise funds through Initial Public Offerings (IPOs).

UPL expects strong performance (10 per cent plus revenue growth and 12-15 per cent EBITDA growth) in the current fiscal year FY23.

Of the 11,000-odd units in the state, which account for nearly 40 per cent of India's chemical output, almost a third have turned sick

In the past one week, the stock price of Deepak Nitrite has declined 16 per cent after the company's manufacturing facility in the Nandesari GIDC area in Vadodara caught a massive fire.

PAT jumped nearly four-fold; Ebitda margins improved to 25.8 per cent from 15.1 per cent owing to shift in the product mix towards high- margin value-added products

While there are multiple positives across SRF's key segments, investors should await for a better opportunity to enter the stock

The company will use the net proceeds towards repayment or pre-payment in full or in part of all borrowing availed by the company and general corporate purposes