Chemical Sector Q3 Earnings Preview: Agrochem, Pharma May Aid Topline Growth, Says ICICI Direct
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ICICI Direct Report
With rise in crude oil prices, we expect majority of the companies in our universe to witness an increase in prices of major raw materials.
This is expected to lead companies to pass on that increase to end users albeit partly since we expect part of the RMAT cost increase to be passed on during this quarter due to lag impact.
In terms of volume growth, due to restoration of demand across construction, auto, textile sectors along with sectors that were resistant during pandemic such as pharma, agrochemical, fast moving consumer goods, this is likely to support volume growth for most chemical companies in the last quarter.
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