4 chemical stocks surge up to 20% today after Q1 results

The majority of the chemical industry stocks closed the day on a green note despite the erratic stock market.

– Indian equity benchmarks ended almost steady. The market started off positively but became turbulent during the trading day.

The four stocks that gained by up to 20% in trade today were Chemcon Speciality Chemicals Ltd, Tata Chemicals Limited, Fairchem Organics Ltd, and Fine Organic Industries Ltd. These gains were supported by solid Q1FY23 results.

Chemcon Speciality Chemicals Ltd

In Q1FY23 the company's revenue from operations reached ₹89.4 Cr compared to ₹57.2 Cr in Q1FY22 a YoY rise of 56.3%. With a YoY increase of 87.8%, the company's EBITDA in Q1FY23 increased from ₹17.9 Cr to ₹33.6 Cr.

Tata Chemicals Limited

The company recorded consolidated income from operations for the quarter at ₹3,995 Cr, up 34% from ₹2,978 Cr for the same quarter last year. The company recorded revenue from operations of ₹1,225 Cr, up 48% from ₹828 Cr in Q1FY 22

Fairchem Organics Ltd

In Q1FY23 the company reported a total income of Rs. 225.40 crores as compared to Rs. 139.53 crores during the same quarter of the last year. The company reported a profit before tax (PBT) of ₹36.04 Cr compared to ₹29.93 Cr in the same quarter of last year.

Fine Organic Industries Ltd

The company's revenue reached ₹753 Cr in Q1FY23 compared to ₹360 Cr in Q1FY22 a YoY rise of 109%. The company reported an EBITDA of ₹206 Cr in Q1FY23 compared to ₹50 Cr in Q1FY22 a YoY rise of 313%