IGL indicated near-term increase of Rs 5-6/kg due to loss of APM gas allocation for CNG segment and confirms need for price increase

Goa plant receiving VAI likely to speed up gAbraxane launch in FY25E. In its 2QFY25 earnings call CIPLA said this would be delayed to H1FY27

Laxmi Organic’s revenue beat our estimates significantly due to strong double digit volume growth. EBITDA beat our estimates significantly due to higher-than-expected gross profit.
We increase our FY26E EPS estimates to INR 8.2 (previously: INR 7.8) as we believe favourable geographical mix and product mix will continue supported by the Specialty segment and demand in industrial solutions and pharma segments remains steady.

Versus consensus, sales miss 1%, EBITDA miss 2% on 15bps lower-than-expected margins. Parachute volumes +4% vs retail offtake +8%

Grey cement volumes at 3.8mt (excluding clinker volumes) fell by ~3% YoY (-12% QoQ) owing to weak demand impacted by seasonality

Weak Q2 on lower-than-expected laminate volume and slow ramp-up of plywood segment