Indian agchem cos may see first decadal fall in annual revenues

摘要

Players in the Indian agrochemical sector are likely to witness their annual earnings taper off for the first time in a decade during the ongoing 2023-24 fiscal year, reports SP Global’s Indian ratings subsidiary, CRISIL Ratings. It anticipates the industry’s consolidated revenues eroding around 3 during the period, highlighting that the projection is based on an assessment of various factors. These include a global decline in agrochemical prices, dull export demand, and a prevalent deficiency in reservoir levels triggered by erratic monsoon, which has cast a shadow on the ongoing rabi (winter) growing season.