Quoting from this recent article
In recent annual general meetings, P I Industries Ltd and Bayer CropScience Ltd were cautious about their domestic agrochemical business and gave the impression that growth in the current fiscal year can be slower than last year, analysts say.
“On the back of three weak consecutive seasons, we expect working capital cycle is likely to deteriorate going forward. Generally, retailers sell agrochemicals on credit to dealers, which is to be repaid at the end of the harvesting season. From companies’ side, firms give credit of around three months to dealers. We expect debtors’ days to stretch further,” B & K Securities added.
This off course should not apply to the CSM part of the business as far as PI is concerned.
| Subscribe To Our Free Newsletter |
