Consensus estimates for FY26 also cut continuously for the past 7 quarters Aggravating demand, inventory stocking, and continued dumping combined with lack of visibility have led to sharp downward revisions in consensus estimates for specialty chemical companies under our coverage. As a result, sliding stock prices, with a few having almost halved in past few quarters, resonate more with EPS cuts rather than downgrades. Some companies like Aarti Industries and Gujarat Fluoro have witnessed as much as 70-75% cut in their FY25 consensus estimates since they began appearing, while most...