R-22 prices rose to Rs244/kg (down 5.0% QoQ / up 37.5%) in Q4FY22-TD, but volumes were down 81% YoY to just 325te. This could be partially due to plant shutdown for Gujarat Fluorochemicals, but we are not worried as companies sell their entire quota allocated for full year. In packaging film segment, spread has increased for both BOPET and BOPP. This is despite anticipation of spreads dipping due to new capacity expansion, while higher margins should keep helping SRF. Lauryl alcohol prices rose again in Jan’22 and now stand at Rs167, up 6.3% QoQ. Inflation in Rossari Biotech’s four key raw materials will keep company margins under pressure, while prices have cooled to some extent but are unlikely to sustain in the near term. Pigment prices have increased (good for Sudarshan Chemical) on QoQ basis, but it has slightly dipped MoM belying expectations of further inflation. EPL will continue to face challenges due to elevated polymer prices. PTFE prices have risen 13.7% YoY to...