Agrochemicals firm Heranba Industries announced Q3FY23: Q3FY23: Revenue from operations stood at Rs 2,802 million in Q3FY23 as compared to Rs 3,954 million in Q3FY22. EBITDA stood at Rs 264 million during the quarter with EBITDA margin of 9.41% in Q3FY23. Profit after tax stood at Rs 144 million in Q3FY23 as compared to Rs 535 million in Q3FY22. Mr. Raghuram K. Shetty, Managing Director of Heranba Industries Limited, commented, “The company’s 9MFY23 revenues stood at Rs 10,655 million impacted by challenging global macros including prolonged geopolitical concerns, rising inflation in major economies and slowdown in demand. The domestic technical business witnessed lower demand due to challenging market conditions coupled with a higher inventory. Our export business was impacted by volatile global macroeconomics. The EBITDA margins were suppressed during 9MFY23 due to higher raw material prices and an increase in power & fuel costs. Heranba’s capex plans are progressing as planned and it will further strengthen the Company’s capacities and capabilities for the coming years. Heranba aims to leverage its sales and marketing teams' reach to strengthen its relationships with existing customers along with adding new customers. The near-term outlook is challenging for the entire agrochemical industry. However, Heranba will continue to diversify its product portfolio, widen its distribution network and sharpen its R&D; focus for creating sustainable growth.” Result PDF