Anand Rathi: Atul’s Q2 Margins Surprise;  Growth Outlook Positive
A farmer sprays fungicide in a field of rice on farmland near Sirsa, Haryana, India (Photographer Prashanth Vishwanathan/Bloomberg)

Anand Rathi: Atul’s Q2 Margins Surprise; Growth Outlook Positive

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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.

Anand Rathi Report

Atul Ltd.’s Q2 revenue/Ebitda/profit after tax recovered well, rising 52%/65%/ 48% QoQ even as low demand from certain user industries tempered its YoY performance.

We are upbeat on its future performance, considering its greater focus on retail and branded products, ongoing capex to support revenue growth coupled with strong performances across business verticals, subsidiaries, associates and joint ventures.

Key risks - drop in spreads of major products, delay in capex and debottlenecking implementation, erratic increase in crude and derivatives prices.

Click on the attachment to read the full report:

Anand Rathi Atul Company Update.pdf

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