Early signs of demand recovery but realization still subdued

11 Mar 2024
5 Min read 
  • Clean Science & Technology reported 3QFY24 results in line with estimates.
  •  Early signs of demand recovery, but realization remains subdued.
  •  Revenue contribution from FMCG Chemicals contracted, while Performance Chemicals and Pharma & Agro remained flat.
  •  Realization remained flat due to downward pressure from China.
  •  Revenue share of principal products improved, but expected to decline in the future.
  •  Clean Science is currently trading at 54x FY25E EPS and 39x FY25E EV/EBITDA.
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