Hello Sir, Hope you are doing well. Last 2 years have not been very good for chemical based stocks. Their realizations have come down, margins contracted and PE ratios have also contracted. A lot of stocks are down 40-50% from their highs. Source: May’23 IG Petrochemicals presentation Recently, we came across IG Petrochemicals which claims to be India’s largest Phthalic Anhydride manufacturer with more than 50% domestic market share. On a cursory glance, the numbers looked interesting and we decided to dig deeper.…