In my view the capacity has come on stream at the end of Q4 and full effect of which came in Q1, so there was significant volume growth there. Agree that the margins would have peaked out but their volumes will continue to be there due to new plant being available. There are multiple views in the market which says RM prices have gone up but they have a pass through clause so that shouldnt effect it much. Not sure how the results will be but there is a report by PL which says the qoq will remain same i.e. there is expected to be PAT of 125 Crs up from 50 CRs yoy. So somehow things not adding up.
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