BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Deepak Nitrite Ltd. reported a mixed bag result, with Ebitda 10% higher than our estimate at Rs 3.9 billion, while Ebitda margin was lower at 23% (estimate: 26.7%) – the lowest since Q4 FY19.
Phenolics continue to aid the performance of other segments, as Deepak Nitrite's Ebit margin in fine and specialty chemicals dip for the fourth consecutive quarter and the same for basic chemicals normalise.
With the tailwinds of demand-supply mismatch, force majeure at various plants, and China power outages (as the government takes various efforts like increasing domestic coal production quotas and lifting of the ban on Australian imports) getting gradually resolved, prices of Phenol seems to be peaking around current levels, while Acetone prices have normalised from its peak over the last two months.
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