Vinati Organics Q4 Results Review - Short-Term Headwinds To Play Spoil Sport: Motilal Oswal

Management has started commercial supply of Antioxida India AOs) which should start contributing to revenues in 1Q FY24. Original DISCLAIMERMotilal Oswal Report summaryFeed_highLightText__NxlGi">BUY 6% FY25E EPS 35x 50.3% xlGi">2.4xQoQ > EBITDAM "sum 30.3% eed_highLightText__NxlGi">20-23% IBB d_highLightText__NxlGi">FY25E EV/EBITDA 21x FY25E EPS 28x < Antioxidants summaryFeed_highLightText__NxlGi">the same period 26%/24% 26.5%/ 27.3% EBITDAM50% 40ktpa to 60ktpa ed_highLightText__NxlGi">18%/ 17% 12%/ the year __NxlGi">12%/ 19%/18% VOL i">PATGuaiacol span Iso Amylene aryFeed_highLightText__NxlGi">9% < 1HFY24 lass="summaryFeed_highLightText__NxlGi">IB & HPMTBE< 44% an> IBB sp 19% cla Butyl Phenol eed_highLig IB Text__NxlGi">7 16% spa Customized