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Vivimed has built a strong franchise in specialty chemicals across the personal-care, home-care and industrial segments. We expect revenue from specialty chemicals to report a 10% CAGR over FY15-17, driven by an increase in volumes. Strong profitability growth could lead to better RoE and RoCE from the current 12.4% and 8%, respectively, to 15.8% and 11.2% by FY17, in our view.

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api-234474152

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