Agrochemicals company Meghmani Organics announced Q2FY24 & H1FY24 results: Q2FY24 vs Q2FY23: Revenue from Operations decreased from 655.2 to 374.0 (a change of -43.1%) EBITDA decreased from 84.8 to 14.8 (a change of -82.5%) EBITDA Margin decreased from 12.9% to 4.0% (a change of -8.9%) Net Profit decreased from 73.4 to -3.6 (a change of -100.0%) Net Profit Margin decreased from 11.2% to -1.0% (a change of -12.2%) H1FY24 vs H1FY23: Revenue from Operations decreased from 1,438.3 to 795.5 (a change of -44.6%) EBITDA decreased from 218.9 to -0.3 (a change of -100.1%) EBITDA Margin decreased from 15.2% to -0.04% (a change of -15.24%) Net Profit decreased from 187.4 to -28.9 (a change of -115.4%) Net Profit Margin decreased from 13.0% to -3.6% (a change of -16.6%) Commenting on Q2FY24 performance, Ankit Patel, Chairman & Managing Director said, “The industry continues to be under pressure due to sharp price erosion, high channel inventory and subdued global demand. Demand from developed economies is also impacted due to high inflation and emerging geopolitical tensions. As we navigate through this tough time, the management has proactively undertaken cost control measures, clearing the high-priced inventory, optimizing the working capital utilisation, and enhancing the cash conversion cycle to maintain our balance sheet strength. On the Capex front, we are progressing in a calibrated manner and we are optimistic that Nano Urea and Titanium Dioxide would start contributing meaningfully from the next financial year. This would help us strike a balance between export and domestic business. Lastly, 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 a sustainable long-term position.” Result PDF