External broker reports(aggregated public sources), Axis Direct

Axis Direct

External broker reports(aggregated public sources)

Axis Direct is the flagship brand under Axis Securities Limited, a subsidiary of Axis Bank in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Chemicals &amp; Agrochemicals: In Q4FY24, we expect chemical companies under our coverage to declare sequential revenue improvement, except for commodity player Archean Chemical, as soft demand from end-user industries has led to a drop in prices.</li><li>The meaningful recovery for chemical companies will likely take another 2 quarters.</li><li>Agrochemicals demand continues to be under pressure, but there are green shoots in certain end-user industries such as dyes, pigments, and polymers, which have witnessed growth in demand and minor improvement in prices of final products. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemicals &amp; Agrochemicals: In Q4FY24, we expect chemical companies under our coverage to declare sequential revenue improvement, except for commodity player Archean Chemical, as soft demand from end-user industries has led to a drop in prices.The meaningful recovery for chemical companies will likely take another 2 quarters.Agrochemicals demand continues to be under pressure, but there are green shoots in certain end-user industries such as dyes, pigments, and polymers, which have witnessed growth in demand and minor improvement in prices of final products. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemicals - Q4FY2024 - Earnings Preview (Agro-Chem SpChem)

External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

<ul><li>We had the opportunity to interact with Mr Manish Shah, Managing Director of OC Specialities Pvt Ltd</li><li>The company operates in two primary businesses: Contract Development and Manufacturing Organisation (CDMO) and distribution</li><li>Within the CDMO segment, the company offers end-to-end coordination ranging from early-stage development to commercial production</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

We had the opportunity to interact with Mr Manish Shah, Managing Director of OC Specialities Pvt LtdThe company operates in two primary businesses: Contract Development and Manufacturing Organisation (CDMO) and distributionWithin the CDMO segment, the company offers end-to-end coordination ranging from early-stage development to commercial productionContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemicals: Opportunities galore for Indian CDMO players

<ul><li>Revenue for our coverage universe is likely to improve by 4.6% QoQ while it could fall by 5.7% YoY in 3Q.</li><li>Chemical prices have shown a sharp correction in 3QFY24 as against product prices in 3QFY23 while these prices are showing a mixed bag on a sequential basis.</li><li>As per the management of chemical companies, the inventory destocking by agrochemical companies may be coming to an end.</li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Revenue for our coverage universe is likely to improve by 4.6% QoQ while it could fall by 5.7% YoY in 3Q.Chemical prices have shown a sharp correction in 3QFY24 as against product prices in 3QFY23 while these prices are showing a mixed bag on a sequential basis.As per the management of chemical companies, the inventory destocking by agrochemical companies may be coming to an end.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Chemicals (Q3FY24 Results Preview): Getting Better

<ul><li>Most companies missing our and street estimates: The chemical pack for H1FY24 posted weak results overall, with most companies missing our and street estimates.</li><li>The agrochemical pack continues to expect inventory destocking to continue in the coming quarters.</li><li>This and weaker domestic demand in China, which is leading to higher Chinese exports at reduced prices, continue to affect realisations in some segments. </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Most companies missing our and street estimates: The chemical pack for H1FY24 posted weak results overall, with most companies missing our and street estimates.The agrochemical pack continues to expect inventory destocking to continue in the coming quarters.This and weaker domestic demand in China, which is leading to higher Chinese exports at reduced prices, continue to affect realisations in some segments. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Equity Bottom-Up

Navin Fluorine International / Equity Bottom-Up

<ul><li>Navin Fluorine International Ltd. (NFIL) numbers for Q2FY24 missed our estimates on all fronts as HPP and the shutdown of the specialty chemical plant affected production.</li><li>The company reported revenue of472 Cr against our estimate of 520 Cr and was up 12.5%/-3.9% YoY/QoQ.</li><li>EBITDA halved from the last quarter due to negative operating leverage (up 4.8% but down 13.9% QoQ). </li></ul>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Navin Fluorine International Ltd. (NFIL) numbers for Q2FY24 missed our estimates on all fronts as HPP and the shutdown of the specialty chemical plant affected production.The company reported revenue of472 Cr against our estimate of 520 Cr and was up 12.5%/-3.9% YoY/QoQ.EBITDA halved from the last quarter due to negative operating leverage (up 4.8% but down 13.9% QoQ). Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Navin Fluorine International Ltd. - Poor Quarter Led by Operational Issues; Awaiting New MD

India

Navin Fluorine International Limited manufactures fluorochemicals. The Company produces benzotrifuoride derivatives, fluoro benzene derivatives, fluoro toluene derivatives, and aliphatic fluoro compounds.

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Navin Fluorine International (NFIL IN)

Chemicals - Q4FY2024 - Earnings Preview (Agro-Chem SpChem)

Chemical companies with strong brands and a consistent track record are seeing traction in CSM/CDMO business opportunities as China +1 and Euro +1...

Axis Direct

Chemicals: Opportunities galore for Indian CDMO players

We had the opportunity to interact with Mr Manish Shah, Managing Director of OC Specialities Pvt Ltd. The company operates in two primary businesses

HDFC Securities

Chemicals (Q3FY24 Results Preview): Getting Better

Chemical prices have shown a sharp correction in 3QFY24 as against product prices in 3QFY23 while these prices are showing a mixed bag on a...

HDFC Securities

Top Sector Ideas - Chemical Q2FY24

Most companies missing our and street estimates: The chemical pack for H1FY24 posted weak results overall, with most companies missing our and...

Axis Direct

Navin Fluorine International Ltd. - Poor Quarter Led by Operational Issues; Awaiting New MD

Navin Fluorine International Ltd. (NFIL) numbers for Q2FY24 missed our estimates on all fronts as HPP and the shutdown of the specialty chemical...

Axis Direct

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