EBITDA to grow 1.1% YoY (5.1% QoQ), however, excluding Chemplast, 15.9% YoY – 1) SRF’s EBITDA to dip (-7.3%) YoY on lower margin in non-chemicals, while chemicals business to continue its good show; 2) Navin Fluorine (+64%) to benefit from rise in utilisation of HPP plant and higher CRAMS revenue; 3) Gujarat Fluorochemicals’ (57% YoY) growth is likely on a strong show in new fluoropolymers and ref-gas; QoQ dip is from seasonality, and 4) Clean Science’s (44% YoY), Rossari (+37%), and EPL’s (+13.7%) EBITDA growth to benefit from lower input prices. Tatva Chintan’s performance continues to hurt from muted SDA sales (albeit part recovery QoQ). Galaxy Surfactants’ volumes may be muted on weakness in AMET, but EBITDA/kg may be healthy. Chemplast’s volumes to rise YoY on re-inventorisation, but PVC spread is likely to be weak (on high cost inventory) which implies steep drop in EBITDA YoY. PCBL’s volumes and gross profit/kg to moderate. ...