Conference Call with Meghmani Finechem Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.
Specialty Chemical firm Meghmani Finechem announced Q2FY23: Q2FY2023: Revenue grew 64% to Rs 556 crore on account of high realizations from Chlor-alkali and Hydrogen Peroxide. Chlor-alkali grew by 65% and Derivatives grew by 59% EBITDA increased 79% to Rs 180 crore while maintaining EBIDTA margin of 32% vs 30% in Q2FY22 PAT increased 95% to Rs 92 crore and PAT margin improved by 267 bps for Q2FY23 H1FY2023: Revenue grew 73% to Rs 1,088 crore on account of 3% volume growth and high realizations from all the products vs H1FY22 EBITDA grew 91% to Rs 368 crore and margin improved to 34% on account of higher realizations vs 31% in H1FY22 ROCE and ROE improved to 37% and 50% respectively on account of higher realization from all the products. Mr Maulik Patel; Chairman and Managing Director – MFL said: “We achieved highestever revenue in Q2FY23. The performance of the quarter is on account of high realizations from majority of our products H1FY2023 was an exciting period as we commissioned all our planned expansion projects, namely- India’s first Epichlorohydrin plant, India’s largest CPVC resin plant and additional capacity of Caustic Soda. Our team is working towards maximizing contribution from the new projects. However, we expect substantial revenue impact from these projects by Q3FY23 onwards. Our vision is to become a fully integrated complex catering to diversified industries, hence we will be further adding downstream chemistries where Chlorine, Hydrogen and other chemicals will be used as a raw material. Our focus is to identify molecules and chemistries which will provide us high margins and are extension of our existing product portfolio.” Result PDF