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ICICI Direct Report
Sudarshan Chemical Industries Ltd.'s topline came in above estimates due to better volume growth while bottom-line remains almost in line due to margin pressure.
Reported revenue growth of 18.8% YoY to Rs 601.8 crore, led by higher growth from pigments (up 17.4% YoY) and engineering (up 85% YoY).
Gross margins fell 230 basis points YoY to ~40.5% while Ebitda margin contracted 340 bps YoY to 12.3%, due to higher operating cost like other (up 30.2% YoY).
Sudarshan Chemical's Ebitda declined 7.2% YoY to Rs 73.9 crore. Profit after tax was down 7.1% YoY to Rs 36.4 crore.
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