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The credit outlook for the specialty chemical industry remains stable. The segment has not witnessed any adverse impact in FY21 due to Covid-19, except in a few segments like dyes and pigments and refrigerant segments.
The performance was supported by recovery in domestic demand from Q2 FY21 onwards, which accelerated in H2 FY21 following healthy demand from the export market.
Further, favorable raw material prices during nine months FY21 also aided the margins.
While, the revenue growth trend had continued in Q4 FY21, there was some moderation in margin due to increase in raw material prices.
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