INDIA l Institutional Research l Chemical l 6 November 2020 Oriental Carbon & Chemicals l BUY l TP: 1,030 Amber product showing green shoots Better domestic sales than exports: 2QFY21 saw the revenue decline by 6% YoY to Rs905mn. This decline was primarily due to lower volume and realisation of sulphuric acid and greater domestic sales i.e. OCCL maintained a domestic/export IS revenue split of ~45%/55% in IS. Lower depreciation and finance cost along with higher other income aided the bottom line leading to a growth of 26% YoY. The PAT...