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Chemplast Sanmar Ltd announced its expectations to commission its Paste PVC expansion project by the fourth quarter of the current financial year. However, the company reported a consolidated net loss of Rs 89.38 crore during the October-December 2023 quarter, compared to a profit of Rs 27.14 crore in the same period last year. The MD attributed this downturn to various factors including a further correction in PVC prices due to dumping from China, slowdown in other chemicals business, and increase in key feedstock prices. ....
Ajit Venkataraman confirms that the volume growth guidance remains intact despite recent declines. While agri segment volumes have been lukewarm, the fundamentals remain strong and the forecast for FY25 remains the same. EBITDA margins have improved by 30.5%, although revenue has dropped due to a decrease in volume. Profitability has improved from Rs 7.5 per kg to almost Rs 10-11 per kg, mainly due to a better non-agri product mix. ....
Jefferies sees an earnings revival in mid-cap firms in financial year 2024 as commodity prices turn favourable and also expects the operating margins of midcaps to rise around 90 bps YoY. ....