Conference Call with Meghmani Organics Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Agrochemicals company Meghmani Organics announced Q4FY23 & FY23 results: Q4FY23: During Q4FY23, the company revenues stood at Rs 565 crore EBITDA stood at Rs 84 crore during the quarter and EBITDA margin was at 14.8% in Q4FY23 Ranked as #1 Fortune Next 500 Company by Fortune India FY23: During FY23, the company revenues stood at Rs 2,557 crore EBITDA stood at Rs 364 crore during the year, the EBITDA margin was at 14.2% in FY23 PAT stood at Rs 250 crore in FY23 Agrochemicals constitutes ~76% of the overall company’s revenue during FY23 Pigments constitutes ~24% of the overall company’s revenue Declared final dividend of 140% (INR 1.40/equity share) for FY23 Commenting on FY23 performance, Ankit Patel, CEO, said, “It gives me immense pleasure to share that Meghmani Organics was ranked #1 Fortune Next 500 company by Fortune India. We are grateful to all our stakeholders for their continued support of our capabilities and vision for over three decades. Despite challenging global macro-environment and inflationary pressure, Meghmani Organics' topline grew by 2.5% YoY to Rs 2,557 crore in FY23. We are adding meaningful capacities and capabilities in both pigment and agrochemical businesses gearing towards future growth. Phase I of the TIO2 plant (16,500 MTPA) is getting stabilised and it will add a meaningful contribution in FY24. The Company aims to commission its captive power plant in Q3 FY24 and double its TIO2 plant capacity to 33,000 MTPA in Phase II. I am happy to share that our agrochemicals vertical has bagged the prestigious Responsible Care® certification in FY23 reflecting the Company’s continuous improvement in safe chemicals management. It propels us to achieve excellence in Environmental, Health, Safety and Security (EHS&S;) performance in the coming years. The MPP is getting stabilised and is expected to make a notable contribution in FY24. The capex towards MNCL for manufacturing Nano Urea (Liquid) fertilizer is progressing as planned and commercial production is expected in Q4FY24. MNCL eyes annualized revenue of Rs 1,000 crore from the Nano Urea plant. The long-term supply contract for 5 years with a reputed multinational customer for agro products will add Rs 160 crore annually to the top line. Meghmani Organics continues to retain and attract new clients with its diversified product portfolio and quality products in both pigments and agrochemicals business. We are confident in achieving sustainable long-term growth for the esteemed stakeholders aided by our robust business model, financial prudence, and strong balance sheet.” Result PDF