Agri Inputs Sector Q2 Results Preview: Strong rebound expected for domestic players: Nuvama; prefers Dhanuka, Coromandel
Nuvama expects a rebound in domestic agri-input in Q2FY24 driven by monsoons and sowing activity, but global agrochem scenario remains difficult. Dhanuka and Coromandel are favored by Nuvama due to steady demand and margin expansion, while UPL and Sharda Cropchem are predicted to perform poorly.
After a mediocre Q1FY24, domestic brokerage Nuvama Institutional Equities anticipates a robust rebound in domestic agri-input driven in Q2FY24 by an uptick in monsoons and sowing activity. Nonetheless, with significant channel inventory and inventory losses, the global agrochem scenario is still difficult.