Chemplast Sanmar Limited has osted a 32% drop in Profit after Tax (PAT) at Rs 26 crore in the quarter ended September 30, 2023 compared to Rs. 39 crore in the corresponding quarter last year. The revenue was at Rs 988 crore in Q2 FY24, a decrease by 17% over the same quarter last year at Rs 1,194 crore. Commenting on the results, Ramkumar Shankar, Managing Director, said, “Following a tepid Q1 FY’24, Q2 FY’24 witnessed a relatively better performance mainly due to improvement in prices of both Suspension and Paste PVC coupled with lower feedstock prices. “The top line was flat while EBITDA was back in the black during the quarter. However, the imports of both Suspension and Paste PVC witnessed an increasing trend towards the end of Q2 with heavy arrivals from China. This trend has spilled over to Q3 as well, resulting in some correction in prices in October. We expect the PVC margins to be under pressure in Q3. “The demand outlook for...