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Prabhudas Lilladher Report
Q4 will likely be a mixed bag for agrochemical industry as on-ground consumption remained soft, yet some companies saw demand traction and benefitted from low base (due to lost sales last year) in placements.
Lower pest infestation, decline in price of few molecules, farmer protests and shift in cropping pattern led to tepid consumption.
Currently supply issues do not persist, but raw material prices are on an upward trajectory globally and in India as well.
On the fertiliser side, underlying demand momentum remains strong for both Urea and complex, driven by continuing robust agriculture activity.
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