Highlights - Q3 results affected by raw material shortage - Margins benefited from better product mix, especially in pharma - Near term outlook is uncertain for pharma division due to coronavirus scare - Long term revenue visibility for chemicals due to multi-year contracts Aarti Industries's (CMP: Rs 995 , Market Cap: Rs 17,422 crore) sales growth in the December quarter was subdued, partly reflecting tough macroeconomic conditions. But its operating metrics showed an improvement making it an exception in a situation, where most companies’ operating margin would have declined....
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