Related by context. Frequent words. (Click for all words.) 62 cyclical nature 60 cyclical 53 volatility 52 seasonality 49 fluctuations 47 seasonal fluctuations 46 cyclical downturn 45 recessionary pressures 45 pricing pressures 43 downturns 42 variability 42 macro economic 42 uncertainties 41 geographical diversification 41 diversification 41 fluctuation 41 vertical integration 41 factors 40 partially mitigated 40 economic downturns 40 distortions 40 cyclically 40 overcapacity 40 Cyclical 39 currency fluctuations 39 rigidities 39 cyclicals 39 headwinds 39 macroeconomic 39 underlying fundamentals 39 geographic concentration 38 Fluctuations 38 fundamentals 38 cash flows 38 recessionary 38 external shocks 38 downturn 38 technological obsolescence 38 underperformance 38 geographic diversification 38 macroeconomy 37 uncertainty 37 currency fluctuation 37 profitability 37 slowdown 37 valuation multiples 37 dilutive effect 37 inventory restocking 37 vagaries 37 softness 36 dislocations 36 attractively valued 36 inherent 36 commoditisation 36 viii 36 oversupplied 36 nonrecurring items 36 seasonally weak 36 differentiation 36 predictability 36 Diversification 35 ROCE 35 volatilities 35 upturns 35 ample liquidity 35 Seasonality 35 segments 35 drybulk 35 markets 35 seasonal variations 35 highly leveraged 35 structural imbalances 35 Offsetting 35 deflationary pressures 35 non durables 35 destocking 35 outperformance 35 xv 34 rupee appreciation 34 instabilities 34 liquidity 34 externalities 34 macro 34 overhang 34 xvii 34 chlor alkali 34 capital expenditures 34 divestitures 34 capex 34 uncertainties inherent 34 commoditization 34 Partially offsetting these 34 inventory replenishment 34 AFX NEWS BRIEFING 34 dependence 34 P Es 34 choppiness 34 optionality 34 risks 33 counter cyclical 33 turbulences