Agrochemicals company Meghmani Organics announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Revenue from operations: Rs 399.8 crore EBITDA: Rs 10.1 crore Gradual improvement on QoQ basis FY24 Financial Highlights: Revenue from operations: Rs 1,539.9 crore EBITDA: Rs 9.5 crore Impacted by sluggish demand and lower product price realizations Inventory destocking: ~Rs 70 crore Crop Protection Segment (FY24): Constitutes ~70% of overall revenue Net Revenue: Rs 1,078.9 crore EBITDA: Rs 44.1 crore Impacted by sluggish global demand and high channel inventory High interest rate scenario affecting performance Pigments Segment (FY24): Constitutes ~30% of overall revenue Net Revenue: Rs 461.0 crore EBITDA: Rs (6.6) crore Impacted by price erosion in global pigment industry Demand contraction affecting performance Commenting on Q4 & FY24 performance, Ankit Patel, Chairman & Managing Director said “For the quarter under review, there was a gradual improvement on a QoQ basis however on a full year basis our revenue and profitability were impacted by continued sluggish global demand, lower product price realizations across markets, and inventory destocking. We have recently commissioned our Nano Urea plant and Titanium Dioxide (TiO2)’s co-gen power plant. Moving into FY25, contribution from Nano Urea and TiO2 will complement our existing Crop Protection and Pigment businesses in which we see gradual recovery in demand followed by improved pricing from H2FY25. We also plan to introduce 4 to 5 products in fertilizers, biofertilizer and biostimulant category in our Crop Nutrition basket, providing a comprehensive, one-stop solution for our farmers to improve the productivity and nutrient use efficiency. To conclude, once again I would like to reiterate that our long-term growth prospects remain intact, given our expanded infrastructure, plant compatibility, wider product range, and geographical reach which will help Meghmani Organics to command sustainable long-term position.” Result PDF