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Shipping Tribune

Shipping Tribune
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Adani Ports to exceed FY24 guidance of 390 MMT | Hellenic Shipping News Worldwide

Adani Ports to exceed FY24 guidance of 390 MMT | Hellenic Shipping News Worldwide
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Adani Ports to exceed FY24 guidance of 390 MMT

Adani Ports to exceed FY24 guidance of 390 MMT
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Near-term headwinds may delay UPL recovery

UPL, the country s largest agrochemical company, had a weak July-September quarter (Q2), reporting a sharp fall in revenues across geographies. Overall, the revenues were down 19 per cent on the back of lower agrochemical prices and inventory destocking. While the overall volumes were down 7 per cent, prices fell by 15 per cent. Volume decline in the European market was on the back of high channel inventory and product bans while in India the fall by 27 per cent was on account of muted demand for segments such as cotton and pulses.

Growth and margin uptick critical for gains in Divi s Laboratories

Rise in input costs, inventory write-off, and pricing pressures led to a drop in gross margins. Higher competitive pressures led to cuts in operating profit margins and earnings estimates for FY24 and FY25. Most brokerages have a neutral or a reduce rating on the stock on account of valuations.

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