Q3FY24 Results conf call Summary:
…Apcobuild continues to grow well. As usual, no comments on quantitative data about sales or profits.
…NBR: Lower volumes were sold due to competition from imports. Hence, suppressed margins.
…XNBR/Nitrile Latex: Volumes increased. However, margins remained under stress due to oversupply and subdued demand. Demand pull seems to be improving in the last 1 month. However, need to monitor for 3~6 months to conclude.
…Utilization of multi-latex plant at Valia has been better than expectation. If capacity is utilized faster, might consider converting some of the XNBR capacity to multi-latex.
Overall, volume increase continues and remains the focus. Margins turnaround is not in sight yet. Revenue growth lesser than volume growth due to correction in raw material prices.
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