Bodal Chemicals declares Q4FY22 result: The company's total revenue in FY22 was Rs 20,680 mn, a growth of 66% which is the highest-ever annual performance led by higher price realization and a better product mix. Indian manufacturers like us, which are highly integrated and operate on a large scale, have benefited from structural demand shifts as a result of global supply chain disruption. The same trend can be seen in our dyestuff business, where we are not only strengthening our client relationships but also establishing ourselves as a reliable supplier on the global market. The dyestuff business has grown significantly in FY22, with revenue of Rs 6,995 mn compared to Rs 3,989 mn in FY21, an increase of 75% on YoY basis. Average prices for dye intermediates i.e. H Acid and Vinyl Sulphone, were Rs 474 per kg and Rs 288 per kg respectively in Q4FY22. This price have remain volatile during the fourth quarter. This year, Dye intermediate chemicals made a revenue of Rs 7,353 mn, compared to Rs 5,570 mn in FY21, an increase of 33% on YoY basis. Our basic chemical division also reported robust performance as demand for all essential chemicals were high. The Chlor Alkali business reported a robust performance in FY22, with revenue of Rs 2,540 mn driven by a healthy volume uptick and higher realization from caustic soda. We are confident that demand from FMCG, textile, and paper industries will be sustainable, and we will be their reliable & preferred partner in the long term. Post upgradation of the Rajpura unit, our Chlor Alkali will be a significant pie of total revenue. 32% of our total business came from exports. Hence, the increase in freight and transportation cost has increased our other expenses considerably. The Turkish Lira has been volatile throughout the year and has affected the annual performance. The impact on full-year basis has been incorporated into the consolidated financials. However, we have taken appropriate steps to address the foreign exchange fluctuation and same is reflected in the Q4FY22 performance. Acquired remaining 20% equity Stake of SENER BOYA to make 100% Subsidiary. There has been significant growth across all our major subsidiaries, and we intend to penetrating this trend in penetrating new region and expanding our business. Result PDF
Specialty Chemicals company Bodal Chemicals declares Q3FY22 result: Consolidated Total Revenue for the 9MFY22 stood at Rs 14,681 mn, which is the highest ever nine months performance for the company. This growth was primarily driven by a better product mix and higher price realization. Rising end-user demand and structural demand shifts as a result of global supply-side tightness have also helped Indian manufacturers like us who operate on a large scale. This trend is also visible in our dyestuff business where we are not only developing a positive client relationship but also solidifying our reputation as a quality manufacturer in the global market. The dyestuff business has grown significantly in 9MFY22, with revenue of Rs 5,129 mn compared to Rs 2,613 mn in 9MFY21. All key products in the dyestuff category have performed well, as overall capacity utilization has moved northwards. Prices of dye intermediate products such as H Acid and Vinyl Sulphone surged during the quarter, reaching Rs 270 per kg and Rs 470 per kg, respectively, and the benefit of same is reflected in Q3FY22 result. For 9MFY22, Dye intermediate chemicals have registered a revenue of Rs 5,222 mn against Rs 3,666 mn in 9MFY21. Vinyl Sulphone's capacity expansion to 6,000 MTPA has been commercialized at the SPS subsidiary with ramp-up scheduled in the coming quarters. The Chlor Alkali business reported a robust performance in 9MFY22, with revenue of Rs 1,796 mn driven by healthy volume uptick and soaring caustic soda prices. We are confident that demand from FMCG, textile, and paper industries will be sustainable, and we will be their reliable & preferred partner. 33% of our total business came from exports. Hence, increase in freight and transportation cost has increased our other expenses considerably. The unusual depreciation of the Turkish Lira Vs US dollar has affected our profitability at our subsidiary, SENER Boya, and resulted in a foreign exchange loss of about Rs 187 mn. The impact has already been incorporated into the consolidated financials. All major subsidiaries have reported notable growth, and we aspire to expand further in their adjacent geographies. Result PDF
Highlights Consolidated Total Revenue for the H1FY22 stood at Rs 8,996 mn, which is highest ever half year performance for the company. This growth was primarily driven by rising demand from the end-user industry and structural demand shift due to global supply-side tightness. Various events in China and mounting freight cost has disrupted the regular trade and vented into steep inflationary pressure on key raw materials. Being one of the renowned market leaders in Dyestuff and Dye-Intermediate products with a global market share of around 3% and 6%, the company leveraged its leadership position in an environment that favors Indian manufacturers. Dyestuff business growth has amplified and registered revenue of Rs 3,171 mn in H1FY22 against Rs 1,425 mn in H1FY21. In Dyestuff, all major products like Reactive Dyes, Acid Dyes, Liquid Dyes have performed well. Foresee this momentum to continue as the textile industry is showing a healthy momentum. Witnessed a similar trend in the Dye Intermediates segment as well. Prices of key products like H Acid, Vinyl Sulphone have moved northwards especially during the month of September 21, which will be reflect in Q3FY22 All Chlor Alkali products are flourishing well from Rajpura, Punjab unit and primarily serving the northern belt of India where most of the renowned FMCG, Textile & Paper manufacturers are located. Presence in North India has been growing since the acquisition of the Rajpura unit. The spot price of key products like Caustic Soda has risen unusually and should have a positive impact on profitability in coming quarters Profitability has been marginally impacted in H1FY22 due to increases in input, transit, and finance costs. Expenses have increased not only in India but also in export markets which accounts for more than 34% of overall business. All key subsidiaries have reported meaningful business. However, foreign exchange and above expenses has squeezed the earnings of few subsidiaries. Expect market penetration to continue from these subsidiaries Result PDF