R-22 price rose to Rs293/kg (9.4% QoQ / 52.7% YoY) in Q2FY23-TD, but volumes were down 33.4% YoY to 943te. The volume drop is concerning as it could be an accelerated decline in demand for R-22, which can spill to domestic market. Domestic R-22 is a highly profitable product. In packaging film segment, spreads have dipped QoQ for BOPET, while they have improved for BOPP. BOPET spread dip was expected due to new capacity expansion. Lauryl alcohol price dipped in Q2FY23 (July’22) and is now at Rs219, down 5.2% QoQ; this should relatively help Galaxy Surfactants see better volumes on reducing cost pressure for FMCG companies. Rossari Biotech’s four key raw materials’ inflation decelerated which has helped the company accrue the benefit of price hike and improve margins. Pigment prices have marginally increased on a QoQ basis; however, volume has declined due to lower demand from plastic segment. EPL should see a relief in margins due to decline in polymer price, which w...