News: Revenues grew 26% YoY to ₹ 1188 crore driven by flagship Fluoropolymers business (up 22% YoY) and Fluorochemicals business (up 64% YoY). On the other hand, Bulk Chemicals segment was down 6% YoY. EBITDA grew 81% YoY and margins stood at 24.8% up 760 bps. Fluoropolymers growth was attributable to improved realisation driven by sale of high value-added sales. Fluorochemicals sales were mainly driven by marginal improvement in Refrigerant prices and volumes growth.
Views: Fluoropolymers segment is witnessing recovery and brighter future with changing global dynamics. The company has invested heavily in high-grade Fluoropolymers capacity build up over the last few years. This, coupled with the exit of some global legacy players is expected to improve the growth.
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