Agrochemicals company Heranba Industries announced FY23 results: Revenue from Operations stood at Rs 13,244 million in FY23 as compared to Rs 14,504 million in FY22 EBITDA stood at Rs 1,746 million during the year with EBITDA margin of 13.05% in FY23 Profit After Tax stood at Rs 1,101 million in FY23 as compared to Rs 1,891 million in FY22 Raghuram K. Shetty, Managing Director of Heranba Industries, commented, “The company’s FY23 revenues stood at Rs 13,380 million restricted by unfavourable global economic scenario, inventory build-up in the system and sluggish demand from key export regions. However, we have witnessed decent traction for our formulation products in both domestic and export markets. The EBITDA margins remained muted during FY23 due to lower price realization and higher power & fuel costs. Despite a challenging year, Heranba’s Balance Sheet continues to remain strong with a ‘Net Debt Free’ status coupled with healthy gross cash & cash equivalents balance of Rs 1,186 million as on 31st March 2023 fuelling the Company’s capex plans. Heranba’s has aptly responded to the recent Gujarat Pollution Control Board (GPCB) closure notice for its Vapi plant. The management is confident to resume commercial production from the Vapi unit in the coming days and the GPCB’s temporary Vapi plant’s closure notice has no impact on Heranba’s future business operations. The Company continues to strengthen its product portfolio with new product registrations in both domestic & export markets and leverage its distribution network for delivering growth in the coming years.” Result PDF