Agro Chemicals Q3 Earnings Preview - Domestic Lacklustre; Exports To Shine: Prabhudas Lilladher
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Prabhudas Lilladher Report
Our interaction with agrochemical dealers and industry players indicate that the domestic industry is likely to witness 7-10% YoY growth during Q3 FY22 primarily driven by price led growth than that of volumes (higher base of last year).
Despite price led growth during the quarter the pressure on the margins is likely to persist as the industry has not been able to fully pass on the inflated cost amid a rising cost scenario.
We expect agrochemical companies under our coverage to post revenue/Ebitda/profit after tax growth of 15%/15%/33% YoY in Q3 FY22 primarily driven by healthy performance from export oriented players. While, we expect the domestic industry to post mid-single digit growth during Q3 FY22 led by abnormally higher base of last year.
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