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Nirmal Bang Research Report
We present Q2 FY22 preview for our mid-cap coverage universe. We have divided our coverage into three sections:
specialty chemicals
specialty Ingredients and
other mid-caps.
Overall, we believe that the strong growth trajectory would be maintained in specialty chemicals as well as specialty ingredients.
In select cases, pick-up in the domestic market would further lead to an improvement.
However, we expect the rising cost of inputs, freight and power will result in sequential margin decline in specialty chemicals coverage universe.
Our specialty Ingredients coverage universe is expected to deliver strong revenue growth, especially Oleochemicals companies.
In out other mid-cap universe CCL Products India Ltd.’s growth would be led by India operations as Vietnam might witness a decline on account of lockdown restrictions from August 2021 and a very strong base.
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