Specialty Chemicals company Gujarat Fluorochemicals announced Q3FY24 results:<br><br>Financial Performance:<br>- Consolidated Revenue from Operations for Q3FY24 was Rs 992 crore, marking an increase of 5% on a QoQ basis.<br>- Consolidated EBIDTA for Q3FY24 stood at Rs 206 crore, exhibiting a significant rise of 26% QoQ. The EBIDTA margins improved to 21% in Q3FY24 from 17% in Q2FY24.<br>- Consolidated PAT (Profit After Tax) for Q3FY24 reached Rs 80 crore, which is a sharp increase of 51% QoQ. Moreover, the PAT margin also expanded to 8% in Q3FY24.<br>- ROCE (Return on Capital Employed) & ROE (Return on Equity) were recorded at 14.47% and 11.98% respectively, excluding capital employed in capacity expansions in the last two years and Capital Work in Progress.<br><br>Business Segment Performance:<br>- The Fluoropolymers vertical reported a stable price environment with a slight volume decrease due to the holiday season in the USA and Europe, resulting in revenue of Rs 545 crore for Q3FY24.<br>- Fluorochemicals saw an uptick in volume but prices remained static, ending the quarter with revenue of Rs 246 crore for Q3FY24.<br>- The Bulk Chemicals segment operated at full capacity, contributing Rs 178 crore in revenue for Q3FY24, despite subdued prices for caustic soda/MDC.<br><br>Outlook and Strategic Developments:<br>- The company anticipates volume increases for fluoropolymers, driven by demand from sectors like EV, Green Hydrogen, Semiconductors, and Solar.<br>- The exit of legacy players is expected to have a pronounced positive impact on performance in FY25.<br>- The company is optimizing its product mix to move towards higher-end grades within the fluoropolymer segment for better results.<br>- Refrigerant gas business is projected to see a marginal improvement starting from Q4FY24 onwards.<br>- Capacity expansions and newly set up fluoropolymer capabilities are expected to enhance sales in subsequent quarters.<br><br><br><br>Result PDF