Overall strong results in an inflationary environment. Phenolics is expected to face margin pressure until they go into downstream products with the new capex. Basic and F&S segments have shown improved margin so it looks like they have been able to pass on the higher costs to an extent. Mgmt commentary would tell us if the results should be viewed as strong defensive in inflationary scenario or average margins down from peak of FY21.
@Malkd has put across a pretty good summary in his portfolio thread. Malkd's Core Portfolio - #795 by Malkd