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Jubilant Ingrevia reports modest growth amid challenges in agrochemical sector
Jubilant Ingrevia reported a modest 2% sequential revenue growth, with a 120bps margin improvement driven by the Pharmaceutical segment's volume and price increases. The Agrochemical sector is expected to recover gradually, while the Nutrition segment saw a 12% YoY revenue rise. However, the acetyl segment declined by 10% YoY due to lower demand and prices. The company is expanding capacities and has signed two CDMO contracts, but challenges in agrochemicals are anticipated until Q4FY25. The stock is rated 'HOLD' with a target price of Rs 696, trading at 43x FY26E EPS.
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