BUSINESS
Hikal: Green compliance issues weigh heavy on valuation
The Gujarat Pollution Control Board’s directive to cease operations at the company’s Panoli plant follows a similar move by the Maharashtra Pollution Control Board over its Taloja plant. We are closing our coverage of the company.
BUSINESS
Himadri Speciality: What should investors do after a stellar run?
In the last four quarters, there has been a consistent improvement in operating margin profile. Performance improvement is broadly in line with the base scenario mentioned in the July’22 note.
BUSINESS
Is there more steam left in this leading carbon black maker?
This company accounts for more than 60% of carbon black exports from India and expected to be a key beneficiary of diversification of international supply chains
BUSINESS
Is it time to look at this oleochemicals derivatives play?
The chemicals sector is going through a cyclical slowdown where a large part of the near-term headwinds is already priced in
BUSINESS
Galaxy Surfactants: Macro challenges to ease in H1 FY24
Lower product prices, on account of a drop in fatty alcohol prices, is expected to bring demand back for speciality products, albeit gradually.
BUSINESS
Fed policy: How do investors take position after a hawkish pause?
The possibility of further rate hikes by the Fed and the progress of monsoon can add volatility to the stock market
BUSINESS
Ami Organics: Multiple growth levers coming to the fore
Dominant presence in a few of the pharma intermediates and the emerging op-portunities in chemical applications are key growth drivers
BUSINESS
Nocil: China +1 theme is gradually building up amidst recessionary headwinds
Weak pricing environment weighs on margins
BUSINESS
Sun Pharma: Stretched valuation a sticking point, what else to watch out for?
Elevated promotional/travel expenses and increased competitive intensity would weigh on margins
BUSINESS
Balaji Amines: Does it merit a look?
Key monitorable to watch would be sustenance of operating margins for the subsidiary - Balaji Specialty
BUSINESS
Divi’s Lab: Sequential improvement, but long way to go
An improvement in gross margins is on the cards over the next three to four quarters
BUSINESS
Zydus Lifesciences: Time to book profit, post strong rally over a year?
Management is aiming for a single-digit growth in the US market for FY24 on the back of launches from the Moraiya facility.
BUSINESS
Navin Fluorine: Innovator-led growth to continue in FY24 for this pricey stock
Except for one molecule, the company is not witnessing any pricing pressure for Specialty chemicals as it has increasingly limited exposure to generics.
BUSINESS
Cipla: US business momentum to moderate
A compression in margins is plausible in the near term as employee and other pre-Covid expenses are likely to escalate
BUSINESS
SRF: Chemicals continue to shine, but all priced in
The EBITDA margins are likely to moderate in FY24
BUSINESS
Dr Reddy’s: Time to book profit?
Domestic portfolio rejig, limited-competition products launches in the US, and a ramp-up in China launches are key to the company’s performance
BUSINESS
Aarti Industries: Is it time to look past inventory headwinds?
FY24 could be another year of consolidation for the industry, unless global growth picks up.
BUSINESS
Fed policy: Is the end in sight for the rate hike cycle?
This could be an appropriate time to start portfolio construction as Fed commentary suggests that some of the financial stability concerns are abating
BUSINESS
Apcotex: Gradual ramp-up of new facilities to drive earnings
Apcotex has a volume-led growth visibility in the near to medium term and margins are expected to pick up later.
BUSINESS
Laurus Labs: Is the worst priced in?
We expect FY24 to be the year of consolidation for top-line growth. Margins are expected to bottom out as operating leverage kicks in first for formulation capacity and later on for CDMO opportunity.
BUSINESS
Syngene: Zoetis opportunity unfolds
Q4 FY23 aided by better-than-expected traction for the 10-year manufacturing deal with Zoetis.
BUSINESS
Is Unichem deal a misstep for Ipca Labs?
The utilisation of the idle assets of Unichem will be key to the success of the deal
BUSINESS
Mankind Pharma IPO: A pricey proposition on branded domestic pharma market
As the company is foraying into newer areas of therapies, particularly chronic, there could be execution hiccups.
BUSINESS
Fermenta Biotech: Time to look beyond near-term cyclical challenges?
Real estate monetization is on works
