In Q4 FY2022, R-22 prices declined marginally to Rs 2,444/kg (down 5.0% YoY/up 37.6% YoY), but sales were down 47.6% YoY to just 1.9% kte

This could be partly due to the closure of the fluoridation plant in Gujarat, but the company is not worried as it has already sold its entire quota for the year

In the packaging film segment, all spreads widened for both BOPET and BOPP

With the addition of new capacity, the spread is expected to come down, but higher margins will continue to favor SRF

In February 2022, cinnamon alcohol prices rose again and are now at Rs 181, up 15.2% YoY

Inflation in Rosari Biotech's four key raw materials will put pressure on the company's margins

RM Bright inflationary outlook despite continued rise in pigment prices (in favor of Soudal Chemicals)

EPL will continue to face challenges due to rising polymer prices

PTFE prices rose 14.8% YoY to Rs 948, in line with GFL's comments on price hikes, with sales up 13.7% YoY in Q4 FY2022 PTFEE

Carbon black export prices increased due to JI inflation, but spreads remained stable

(Note: All prices are in Rs/kg

222 FY4Q prices are for Jan 22 and Feb 22 only) //pSRF Ltd: R-22 prices down marginally; packaging film spreads strong;

R-22 prices at TD declined by 5.0% (37.6%) YoY to Rs 244% in Q4 FY2022

Fluorite (acid crystalline stone) prices increased by 7.9% YoY and 8.4% YoY to Rs 31%

R-22 1300 spread (Fluorite and Chloroform) at Rs

1,300 in Q3 FY2022 as compared to Rs

150 in Q3 FY2022

The price of R-22 remained unchanged at Rs

244 in February 2022

Exports of 1,900 units declined by 47.6% year-on-year

MDC (Methylene Chloride) prices were recorded at Rs

71, up 23.8% YoY and 82.3% on a year-on-year basis, while Chlorine prices declined

Our analysis suggests that SRF's MDC spread/profit should be higher

In Q4 2022, NTCF prices rose 50.2% YoY and 13.8% YoY to Rs 200%

Autolactam declined 3.3% YoY and 39.1% YoY to Rs 158%

The NTCF-lactide spread was minus Rs 41 vs Rs 31 in Q3 2022

NTCF imports were down 32.6% YoY at 3,300 units

BOPET prices rose 3.4% YoY and 29.9% YoY to Rs 155%

PTA prices declined 6.7% YoY/38.0% YoY to Rs 58% while MEG prices declined 18.7% YoY/6.1% YoY to Rs 47%

The BOPET-PTA/MEG spread increased by 16.0% MoM and 30.9% YoY to Rs 89% (Rs 77 in Q22)

On a monthly basis, the spread widened by 3.1% to Rs 90 on February 22nd

BOPP price inflation rose 1.1% MoM/ 23.9% YoY to Rs 186%, while polypropylene (PP) prices rose 15.8% MoM/ 2.3% Ratio to Rs 92%

The BOPP-PP spread recorded KRW 10 billion, up 25.8% YoY and 56.0% on-year

Navin Fluorine (NFIL): R-22 Spreads were slightly moderate

R-22 prices declined by 5.0% YoY and rose by 37.6% YoY to Rs 244%

Fluorite (acid crystal) prices rose 7.9% YoY and 8.4% YoY to Rs 31%

The R-22 spread (Fluorite and Chloroform) stood at Rs

1300 in Q3 2022 as compared to Rs

150 in Q3 2022

NFIL will be negatively impacted as chloroform prices continue to rise

Chemplast Sanmar: PVC Spreads Improve

Paste PVC prices were recorded at Rs 146, up 17.0% YoY and 29.2% YoY

Chemplast bought EDC for paste PVC at Rs 70, up 0.6% YoY and 69.7% on a year-on-year basis

Q4 FY2022-TD Paste PVC-EDC spread was Rs

30 as compared to Rs

10 in Q3 FY2022

Suspended Polyvinyl Chloride (S-PVC) prices were at Rs 116, up 3.1%/58.9% YoY

VCM prices were down 5.9% YoY and up 22.2% YoY to Rs 101%

S-PVC-VCM Q4-FY2022-TD spread was Rs 15 as compared to Rs 5 in Q3-FY2022

Methylene dichloride (MDC) prices rose 23.8% YoY and 82.3% YoY to Rs 71%, while chlorine prices declined

Our analysis shows that Chemplast's MDC spreads have increased quarter-on-quarter

Caustic soda prices declined by 1.2% q-o-q and rose 107.9% y-o-y to Rs 50% (Rs 51 in Q3FY22)

PVC slurry imports declined 32.5% YoY to 2,400 units and S-PVC sales declined 33.7% YoY to 59,000 units

Sudarshan Chemical (SCIL): organic pigment realization up 23.1% YoY

Organic pigments prices increased by 6.3% YoY and 23.1% YoY to Rs

626 TD in Q4 FY2022 as compared to Rs

589 TD in Q3 FY2022

Organic pigments include all colors, including CPC

exports of 20,000 units were down 8.5% YoY

However, on February 22, prices rose 2.8% YoY

Prices of azo pigment blends rose 6.4% YoY and 23.9% YoY to Rs 506% in Q3 FY 2022 as against Rs 476 in Q3 FY 2022

Inorganic pigment prices rose 3.3% YoY and 14.2% YoY to Rs 114% as compared to Rs 110 in Q3 FY2022

Galaxy Surfactants (GSL): 4QFY2022-TD Lauryl Alcohol prices firm

Lauryl Alcohol prices rose 15.2% YoY and 48.0% YoY to Rs

181% as compared to Rs

157 in Q3 FY2022

On February 22, it rose 17.1% YoY to Rs 195 Petroleum-based surfactant LAB (straight chain alkyl benzene) price was at Rs 129, up 0.7% q-o-q and 47.0% y-o-y

Rossari Biotech: Input Raw Material Prices Continue to Rise

Rossari uses four key raw materials: surfactants, acetic acid, acrylic acid and silicone oil

The key base raw material price for lauryl surfactant was Rs

157, up 15.2% from Rs

181 in Q3 FY2022, and up 15.2% from the previous quarter and 48.0% year-on-year

Q4 FY22-TD Acetic acid prices declined by 3.9% YoY and increased by 61.6% YoY to Rs

74% (Rs

77 in Q3 FY22)

On February 22, prices were at Rs 67, down 15.3% YoY

Acrylic prices rose 6.1% YoY and 88.1% YoY to Rs 177% (Rs 1,666) in the same period last year)

In February 2022, acrylic prices were down 2.2% YoY at Rs

175 Silicone oil prices rose 11.3% YoY and 96.8% YoY to Rs 467% (Rs 420 in Q3 FY22) during Q4 FY2022 to TD

EPL Ltd: Polymer prices stabilized

The price of LLDPE, a key feedstock for laminates, was pegged at Rs 99, up 1.1% YoY and 33.1% from Rs 1.1% in Q3 FY2022

In February 2022, prices fell 4.3% YoY to Rs 97

Vinati Organics

Ibuprofen prices fell 18.3% YoY and 55.2% YoY to Rs 972% (Rs 1,1899 in Q3 FY22)

IBB prices increased by 0.8% YoY (36.0% YoY) Rs

Atul Ltd

2, 4-D prices rose 17.2% YoY and 79.1% YoY to Rs

295

Q4 FY22-TD 6.1% exports up 6.1% YoY to 5.6 kte

cresol prices up Rs 270, up 6.5% YoY and 82.2% YoY

Q4FY22-TD exports declined by 4.8% YoY to 1.9 kte

epoxy resin prices declined by 7.7% YoY to Rs 331, up 35.9% YoY

Q4 FY22-TD exports grew 33.7% YoY to 4.9 kte

resorcinol prices declined 6.1% YoY and 2.5% YoY to Rs 681

Q4 FY2022 exports grew 205% YoY to 471te.Fluorochemicals PTFE prices surge in Gujarat

PTFE prices rose 14.8% YoY and 36.7% YoY to Rs 9488% (Rs 826 in Q3 FY22)

PTFE (Fluorite) spreads widened by 15.5% YoY and 40.1% YoY to Rs 868% (Rs 751 in Q3 FY22)

PTFE exports grew 13.7% YoY to 2,400 units

R-22 prices declined by 5.0% YoY and rose by 37.6% YoY to Rs 244%

Fluorite (acid crystalline stone) prices rose 7.9% YoY and 8.4% YoY to Rs 31

The R-22 spread (Fluorspar and Chloroform) is at Rs

1300 in Q3 2022 as compared to Rs

150 in Q3 2022

GFL will be negatively impacted by the continued rise in chloroform prices

Caustic soda prices declined by 1.2% YoY and increased by 107.9% YoY to Rs 50% (Rs 51 in Q3FY22)

PCBL

Carbon Black prices rose 7.2% YoY and 33.3% YoY to Rs 94% (Rs 88 in Q3FY22)

Q4 FY2022-TD Carbon Black exports up 54% YoY to 38,000 units