CLEAN reported an in line EBITDA, while gross margin declining to 61% (est. 63.5%). EBITDAM continued to decline for the fifth consecutive quarter (at 39%). The Performance and Pharma Chemicals segment performed better, led by increased realizations across all products. Margin was impacted in 1QFY23 as the operating leverage benefits were negated by the inflationary environment across key raw materials and energy costs, particularly coal. The management expects prices of the same to fall in 2...
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