The company has had tremendous growth in the last 3-4 years. For example, sales (resp. operating profit, net profit) in the trailing twelve months upto Sep22 was up by ~90% (resp. ~84%, ~150%) compared to Mar19. Can someone who has been following this company/sector please explain the underlying reason for this tremendous growth? In particular:
Q1. Was there significant new capacity that came online during this period?
Q2. To what extent are the fertilizer and agrochemical industries cyclical? In particular, are there significant fluctuations in the prices of fertilizer and agrochemicals? Are there significant fluctuations in the prices of the raw materials? Are there significant changes in the volume of fertilizers and agrochemicals consumed by agriculture?
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