The worst may be over for chemicals and textiles company Grasim

Analysts' target prices indicate an upside of about 20 per cent from current levels

Chemicals and textiles major Grasim had a disappointing October-December quarter for the 2022-23 financial year (Q3FY23) due to higher costs and lower demand for products. However, the management guidance suggests that the worst is over, and the stock may have an upside, going by what the analysts have to say at present.

Grasim reported a standalone Ebitda (earnings before interest, tax, depreciation and amortisation) of Rs 480 crore (down by 48 per cent year-on-year or YoY and down 50 per cent quarter-on-quarter or QoQ). The reported PAT (profit after tax) was Rs 257 crore, down 47 per cent YoY and