Laxmi Organic Industries Ltd (LOIL) reported revenue of INR 6,546Mn(-23.9% YoY/+0.4% QoQ) on account of fall in Acetyl Intermediates (AI) prices and lower demand in Specialty Intermediates (SI) compared to last year. However, the prices in AI segment has begun to stabilize on a sequential basis; whereas SI demand started coming back towards the end of Q3FY23. EBITDA reported at INR 548Mn (-53.8% YoY/+91.4% QoQ). EBITDA margin stood at 8.4% (-543bps YoY/+398bps QoQ); an improvement in margin performance on a sequential basis was mainly on account of correction in input costs and narrowing spread of AI segment.