External broker reports(aggregated public sources), HDFC Securities

HDFC Securities

External broker reports(aggregated public sources)

HDFC securities is the best online trading platform for stocks, IPOs, mutual fund in India. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Thematic (Sector/Industry)

<ul><li>Our chemical universe is expected to report a muted sequential growth, owing to subdued demand, courtesy the global recessionary headwinds faced by various end-user industries</li><li>Revenue for our coverage universe is likely to improve by ~6/5% YoY/QoQ.</li><li>EBITDA margin could deteriorate by 188bps YoY and remain flattish sequentially at 21%, owing to the elevated raw material cost and lower absorption of fixed cost.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

Our chemical universe is expected to report a muted sequential growth, owing to subdued demand, courtesy the global recessionary headwinds faced by various end-user industriesRevenue for our coverage universe is likely to improve by ~6/5% YoY/QoQ.EBITDA margin could deteriorate by 188bps YoY and remain flattish sequentially at 21%, owing to the elevated raw material cost and lower absorption of fixed cost.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

<ul><li>The Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertainty</li><li>The uniqueness of the chemical industry is that it requires both the creation of tangible assets and technical manpower</li><li>We believe domestic chemical companies have abundant opportunities to partner in technology</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

The Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertaintyThe uniqueness of the chemical industry is that it requires both the creation of tangible assets and technical manpowerWe believe domestic chemical companies have abundant opportunities to partner in technologyContent is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Indian Chemical Sector 2.0 - Catalysts for Growth in Place

External broker reports(aggregated public sources), Motilal Oswal Financial Services Limited

Motilal Oswal

Motilal Oswal Financial Services Limited

Motilal Oswal Financial Services Limited is an Indian diversified financial services firm offering a range of financial products and services. 

Content available is external broker reports authored by a third party outside the Smartkarma network and has been aggregated by an online aggregator through publicly available sources and is displayed by Smartkarma in this format for user's convenience and general informational purposes only. Content does not constitute investment or financial advice and Smartkarma makes no representation or warranty regarding its accuracy or contents. Original third party author retains all copyright and other proprietary rights in the content. Access or use of third party links not controlled by Smartkarma are at the user's own risk.

Equity Bottom-Up

Clean Science and Technology / Equity Bottom-Up

<ul><li>CLEAN reported a beat on our EBITDA estimate, while gross margin expanded to 62.5% (est. 59.2%).</li><li>EBITDAM was flat at 39.4% (v/s 39% in 1QFY23). The Performance and FMCG Chemicals segment performed better QoQ, led by increased realizations across all products.</li><li>Input prices remain volatile and a short-term concern for the company.</li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

CLEAN reported a beat on our EBITDA estimate, while gross margin expanded to 62.5% (est. 59.2%).EBITDAM was flat at 39.4% (v/s 39% in 1QFY23). The Performance and FMCG Chemicals segment performed better QoQ, led by increased realizations across all products.Input prices remain volatile and a short-term concern for the company.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Clean Science and Technology - Remains Confident in the New Series of Products

External broker reports(aggregated public sources), Nirmal Bang

Nirmal Bang

A Relationship Beyond Broking

Nirmal Bang, one of the leading stock broking companies in India, caters to retail and institutional clients by offering them a range of financial products and services, including equities, derivatives, commodities, currency derivatives, mutual funds, IPOs, insurance, depository services and PMS.

Nirmal Bang is drawn from a diversity of professional backgrounds, and blend of experience, skill and dedication is shared with its clients. Nirmal Bang emphasizes adequate, thorough research local and world-wide developments, balancing these with the astute discovery of intrinsic values, synergies and growth. The aim is simply to help the investors to maximize their returns.

<div><div><div><div><ul><li>We are comfortable with everything but valuation: Implementation of sustainable chemistry practices and ongoing process improvement (to cut down or eliminate the use of toxic materials such as KSMs, Efflux) is the need of the hour.</li><li>While many companies are increasingly taking initiatives on that front, CLEAN is the pioneer in the same and is the classic example of why the chemical industry should shift to these practices in order to protect the environment without compromising their operational performance.</li><li>Hence, valuation premium vis-à-vis like-to-like peers as well as chemicals industry should persist, in our view.</li></ul></div></div></div></div><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

We are comfortable with everything but valuation: Implementation of sustainable chemistry practices and ongoing process improvement (to cut down or eliminate the use of toxic materials such as KSMs, Efflux) is the need of the hour.While many companies are increasingly taking initiatives on that front, CLEAN is the pioneer in the same and is the classic example of why the chemical industry should shift to these practices in order to protect the environment without compromising their operational performance.Hence, valuation premium vis-à-vis like-to-like peers as well as chemicals industry should persist, in our view.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Clean Science & Technology - 4Q Ahead of Estimates; Continues to Gain Customer

<p>Clean Science and Technology (CSTL) recently concluded its IPO via an offer for sale of INR15.5b, priced at INR900/share. Post the IPO the promoter shareholding stands at 78.5%.</p><div class="content-highlight"><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></div>

Clean Science and Technology (CSTL) recently concluded its IPO via an offer for sale of INR15.5b, priced at INR900/share. Post the IPO the promoter shareholding stands at 78.5%.Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

Clean Science and Technology: Novel Chemistry at Play

India

Clean Science and Technology Private Limited operates as a chemical company. The Company offers butylated hydroxy anisole, mono methyl ether of hydroquinone, guaiacol, and dimethyl carbonate. Clean Science and Technology serves customers worldwide.

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Clean Science and Technology (CLEAN IN)

Chemicals: Recovery and stability ahead!

Our chemical universe is expected to report a muted sequential growth, owing to subdued demand, courtesy the global recessionary headwinds faced by...

HDFC Securities

Indian Chemical Sector 2.0 - Catalysts for Growth in Place

The Indian chemical industry continues to be an attractive hub of opportunities, even in an environment of global uncertainty

HDFC Securities

Clean Science and Technology - Remains Confident in the New Series of Products

EBITDAM was flat at 39.4% (v/s 39% in 1QFY23). The Performance and FMCG Chemicals segment performed better QoQ, led by increased realizations...

Motilal Oswal

Clean Science & Technology - 4Q Ahead of Estimates; Continues to Gain Customer

Clean Science & Technology’s (CLEAN) 4QFY22 EBITDA came in ~14% ahead of our estimate mainly on account of strong revenue growth across...

Nirmal Bang

Clean Science and Technology: Novel Chemistry at Play

Clean Science and Technology (CSTL) recently concluded its IPO via an offer for sale of INR15.5b, priced at INR900/share. Post the IPO the promoter...

Motilal Oswal

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