The company s 12-month order backlog was Rs 2,168.4 crore as of March 31, 2024, as compared to Rs 1,794.1 crore a year ago which fueled optimism for a strong recovery in FY25
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Brokerage say it is wrong to interpret the rise in chemical stock prices as an indication of recovering demand. They say the spike in chemicals prices has stretched valuations even more for most stocks within the sector.