Fertilizers company Gujarat State Fertilizer & Chemicals announced FY24 results: Challenging Year: FY24 presented significant challenges for the company, primarily due to external factors impacting both the Fertilizers and Industrial Products segments. Sales and EBIDTA Decline: The company experienced a substantial decline in both sales and EBIDTA, with a year-on-year (YoY) de-growth of 21% in sales and 51% in EBIDTA. Fertilizer Segment Impact: The Fertilizer segment faced challenges with a decline in both top-line and bottom-line performance. This was mainly attributed to a significant downward revision in subsidy rates, leading to a 25% decrease in Fertilizer sales in value terms, despite a 6% increase in volume. Margin Squeeze: Although there was a softening in raw material prices YoY, this was offset by the decrease in subsidy rates, resulting in a significant squeeze on the Fertilizers segment's EBIT margins, dropping from 17% to 5%. Industrial Products Segment: In the Industrial Products segment, lower sales realization of major products led to an 8% decline in the top-line YoY. Result PDF