External broker reports(aggregated public sources), Prabhudas Lilladhar

Prabhudas Lilladhar

Prabhudas Lilladher is one of India's leading research based financial services organisation.  

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.

External broker reports(aggregated public sources)

Prabhudas Lilladher is one of India's leading research based financial services organisation.

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

<ul><li>P&amp;F reported modest volume increase of 5.5% YoY due to weak season for agri business and delays in ADD on PVC resin prices.</li><li>The company has guided single digit volume growth for FY25, which leads to high single digit volume growth in Q4FY25. The management indicated double digit volume growth for FY26, with improvement in margins as competitive prices will improve with demand and normalization in channel inventory.</li><li>EBIT/kg for the P&amp;F segment moderated at Rs3.7 with lower PVC-EDC spread at USD 517/MT and 5.1% YoY lower realization.</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>

P&amp;F reported modest volume increase of 5.5% YoY due to weak season for agri business and delays in ADD on PVC resin prices.The company has guided single digit volume growth for FY25, which leads to high single digit volume growth in Q4FY25. The management indicated double digit volume growth for FY26, with improvement in margins as competitive prices will improve with demand and normalization in channel inventory.EBIT/kg for the P&amp;F segment moderated at Rs3.7 with lower PVC-EDC spread at USD 517/MT and 5.1% YoY lower realization.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.

Finolex Industries (FNXP IN) - Margin Contracted, Modest Volume Growth