For the first time in multiple specialty companies quarters, chemical are likely to report a sequential increase in revenues and earnings for the January-March quarter (Q4). While the sector reported a 9 percent sequential decline in revenues in the October-December quarter (Q3), it is expected to post 10-11 percent growth (quarter-on-quarter) in Q4.
Early signs of recovery, stabilising price levels, and easing pressure from Chinese suppliers are being cited as reasons for the improvement.
Q3 had been muted for most companies as weak global demand on account of elevated channel inventory led to lower revenue and operating profit growth.
The initial expectation was that weakness would continue in Q4 and a rebound was expected in 2024-25 (FY25) as channel inventory eased on the back of demand revival.
Brokerages had upgraded the sector and a few stocks, given the improvement in Q4 itself.
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