Commodity Chemicals company Gulshan Polyols declares Q3FY22 result: 9M’FY22 Revenue from Operations stood at Rs 80,849.97 Lakhs vs. Rs 53,868.90 Lakhs in 9M’FY21, showing a notable growth of 50%, similarly, Net Profit at Rs 7,380.28 Lakhs vs. Rs 4091.19 Lakhs in 9M’FY21, which is 80 %Up) with a impeccable growth.) Q3’FY22, Revenue from Operations stood at Rs 29,266.10 Lakhs vs. Rs 20,912.89 Lakhs in Q3’FY21, showing strong growth of 40%, similarly, Net Profit at Rs 1,913.34 Lakhs vs. Rs 1860.48 Lakhs in Q3’FY21. Reported EBITDA at Rs 12636.62 Lakhs as compared with Rs 8840.06 Lakhs in Q3’FY21, grown by 43 %. EBITDA to Revenue stands at 16 % in 9M’FY22. Net Profit to Revenue increased to 9% from 8 % in 9M’FY21. These nine months reflected the strong positive free cash flows at Rs 9,771.68 Lakhs versus Rs 6,484.64Lakhs in 9M’FY21, grown by Rs 3,287.04 Lakhs which is almost 51 %. Finance costs reduced to Rs 358.22 Lakhs as compared to Rs 482.83 Lakhs in 9M’FY21. EPS improved to Rs 15.73 from Rs 8.72 in 9M’FY21. EBITDA to Revenue stands at 12 % in Q3’FY22 which is equivalent to Rs 3,530.67 lakhs. Net Profit to Revenue at 7% in Q3’FY22. The quarter reflected positive free cash flows at Rs 2,748.22 Lakhs versus Rs 2,683.32 Lakhs in Q3’FY21 grown by Rs 64.90 Lakhs. EPS improved to Rs 4.08 from Rs 3.97 in Q3’FY21. BRIEFING BY DR. CHANDRA KUMAR JAIN, CHAIRMAN AND MANAGING DIRECTOR OF GULSH: POLYOLS LIMITED ON THE COMPANY’S PERFORMANCE: It is really appreciable that your Company is emerging stronger and healthier and is scaling new heights. During the quarter, we worked diligently by assuring employees’ safety while continuing to serve our customers by running our operations successfully. The 9 months results demonstrate that our business strategy is working well which is evident by revenue growth of 50% in 9M’FY22 (YOY). | am glad to say that we are setting new precedents and marking higher from our own performance and financial numbers and moving ahead quarter on quarter. Among other segments; the Grain Processing business has grown significantly as it has contributed to a revenue growth by Rs 21220.82 Lakhs in 9M’FY22 vs. 9M’FY21, up by 55% of comparative total revenue growth, due to good and continuous demand. Further, the Ethanol and Distillery segment is doing well in producing and supply of ‘Ethanol’ to Oil marketing companies and other public sector companies. It has contributed into revenue growth by 5833.64 Lakhs in 9M’FY22 vs. 9M’FY21, which is at 67 % Growth continues accelerating in Q3 with resilient operating margins. Your company is combatting the global coal crisis which has led to increase in “power and fuel cost” by 70%, and in addition to this, a rise in raw material price by 33% in Q3FY22 (YOY) has affected the profitability and hence the bottom line. Despite that, Company is continuously focusing on achieving its targets by constantly improving its sales volumes, sales price realization and optimizing cost wherever possible. A sequential growth in revenues and a consistent demand in the Grain processing and Ethanol segment, is driving growth for the Company. Simultaneously, we continue to strengthen employee’s value proposition including health and wellness measures, re-skilling programs, appropriate compensation interventions, ESOPs and enhanced career growth opportunities. Our recent priority has been to vaccinate our employees with agility and we have been holding various vaccination drives at our plants across the country, towards this endeavor. I am happy to report that at present more than 70% of our employees are vaccinated across the organization with at least one shot of the Vaccine." Result PDF
Highlights: Q2 FY22 (YoY): Revenue from Operations stood at Rs. 27,728.36 Lakhs vs. Rs. 20,860.79 Lakhs in Q2 FY21, showing a decent growth of 33% Net Profit at Rs. 2,847.93 Lakhs vs. Rs. 1712.53 Lakhs in Q2 FY21, showing a good growth of 66%. Reported EBITDA at Rs. 4,750.86 Lakhs as compared with Rs. 3,498.96 Lakhs in Q2 FY21, grown by 36 %. EBITDA to Revenue is stands at 17 % in Q2 FY22. Net Profit to Revenue grown from 8% in Q2FY21 to 10% in Q2 FY22. The quarter reflected the strong positive free cash flows at Rs. 3,647.95 Lakhs versus Rs. 2,527.76 Lakhs in Q2 FY21, grown by Rs. 1,120.19 Lakhs which is almost 44 %. Finance costs reduced to Rs. 115.90 Lakhs as compared to Rs. 179.76 Lakhs in Q2 FY21. EPS improved to Rs. 6.07 from Rs. 3.65 in Q2 FY21 H1 FY22 (YoY): Revenue from Operations stood at Rs. 51,583.87 Lakhs vs. Rs. 32,956.01 Lakhs in H1 FY21, showing a notable growth of 57% Net Profit at Rs. 5,466.95 Lakhs vs. Rs. 2230.71 Lakhs in H1 FY21, which is 145 % with remarkable growth Reported EBITDA at Rs. 9,105.95 Lakhs as compared with Rs. 5,191.71 Lakhs in H1 FY21, grown by 75 %. EBITDA to Revenue is grown at 18 % in H1 FY22 vs 16 % in H1 FY21. Net Profit to Revenue grown from 7% in 6M’FY21 to 11% in H1 FY22. This half year reflected the strong positive free cash flows at Rs. 7,023.47 Lakhs versus Rs. 3,801.31 Lakhs in H1 FY21, grown by Rs. 3,222.16 Lakhs which is almost 85 %. Finance costs reduced to Rs. 197.89 Lakhs as compared to Rs. 398.36 Lakhs in H1 FY21. EPS improved to Rs. 11.65 from Rs. 4.75 in H1 FY21. Briefing by Dr. Chandra Kumar Jain, Chairman and Managing Director of Gulshan Polyols on the Company’s performance: ‘’During the quarter, we worked diligently by assuring employees’ safety while continuing to serve our customers by running our operations successfully. The Q2 results demonstrate that our business strategy is working well. We grew by 16% by recording Revenue from Operations in Q2 FY22 at Rs. 27728.36 Lakhs as compared to Rs. 23855.51 Lakhs in Q1 FY22. I thank our customers, partners, stakeholders, colleagues and employees as we are surpassing and moving ahead every quarter on quarter. I feel overjoyed to announce that Environment Clearance of 500KLPD along with CO GEN Power Plant has been granted to your Company for the proposed project activity i.e Grain Based distilleries for Ethanol Blended Petrol. This is achievable due to constant conviction and faith of all Stakeholders in the Company Additionally, Gulshan Polyols Limited has incorporated a Wholly Owned Subsidiary namely “GULSHAN OVERSEAS – FZCO” under Dubai Silicon Oasis Authority for the purpose of expanding the current business of the Company and exploring the business opportunities globally. ‘’I shall say that your Company is on a roller coaster ride to achieve all its planned milestones one by one due to our focus strategies and dedication of our management, employees and the trust of our customers. We have grown and growing ahead at the fastest pace ever in a decade, constantly.’’ Result PDF