Agrochemicals firm India Pesticides announced Q1FY23 Result : Q1 FY23 Revenue Growth of 27.4% YoY Pretilachlor Technical 2,000 TPA capacity launched in Q1 FY23 Revenue Growth of 27.4% to Rs. 2,217 mn EBITDA of Rs. 590 mn; EBITDA Margin of 26.6% Net Profit Rs. 411 mn; Pat Margin of 18.5% Technicals + APIs constitute 78% of total revenue Commenting on the performance, Mr. Anand S. Agarwal, Chairman: “During the quarter our revenue grew by 27.4% supported by increased demand of existing products and new product launches. The ongoing global uncertainties had an impact on raw material prices during the quarter and increased energy cost resulted in margin decline. We launched first phase of our backward integration for Pretilachlor Technical of 2,000 TPA during Q1 FY23. This will be manufactured in our existing facility at Sandila Plant, which will further safeguard us from any supply chain challenge of the intermediate which is largely imported. We are planning to expand it further in the current fiscal year. The primary application for the chemical is as herbicide for rice plantation. We anticipate a good market potential for this product. The manufacturing process was developed indigenously by our R&D; and project engineering teams. This brings our total Technical manufacturing capacity at Sandila to 21,400 TPA. We are also progressing positively towards Hamirpur Facility where EIA report is under completion and is expected to be submitted by August end. Looking forward we will continue our journey towards building long-term relationships with all stakeholders by delivering as per everyone's expectations. We are consistently working towards our vision of supporting chemical business and farmers across world by producing superior value chemicals by integrating quality and efficiency,” Result PDF
Conference Call with India Pesticides Management and Analysts on Q4FY22 Performance and Outlook. Listen to the full earnings transcript.
India Pesticides declares Q4FY22 result: FY22 Revenue Growth of 11.3% EBITDA Growth of 19.8%; Margins of 31.1% FY22 Net Profit Growth of 17.5%; Margins of 21.7% Robust growth momentum across product category Revenue Growth of 11.3% to Rs. 7,293 mn EBITDA growth of 19.8% to Rs. 2,270 mn; Margins expanded by 221 bps to 31.1% Net Profit Rs. 1,580 mn compared to Rs. 1,345 mn in FY21; Margins of 21.7%, up 114 bps Debt reduced by 49% to Rs.155 mn; Net Cash improved to Rs. 1,085 mn Total debt to equity improved from 0.08x to 0.02x Technicals + APIs constitute 76% of total revenue during FY22 Revenue growth of 34.3 % to Rs. 1,815 mn EBITDA growth of 22.3% to Rs. 467 mn Net Profit growth of 14.7% to Rs. 307 mn Commenting on the performance, Mr. Anand S. Agarwal, Chairman: “During the quarter our revenue grew by 34.3% supported by increased demand of new product launches. We are a R&D; driven firm and constantly try to develop and innovate by targeting high demand niche molecules in the International and domestic market and efficiently producing and marketing them across the globe. During the quarter we soft launched 1 new herbicide technical which have the revenue potential of Rs 50 crores. Presently we have two upcoming products in pipeline out of which last product will be launched by Q3 of FY23. During the quarter we further increased our Sandila plant capacity by 500 MT for our existing Fungicide technical and plan to further increase it by 1,500 MT by end of next quarter. Our progress of the ongoing expansion projects is as per timelines and our expectations. FY22 have been a year where company took significant leap towards future by becoming public and is inclined towards meeting all expectations of its shareholders. We are consistently working towards our vision of supporting chemical business and farmers across world by producing superior value chemicals by integrating quality and efficiency." Result PDF
Agrochemicals company India Pesticides declares Q3FY22 result: 9M FY22 EBITDA Growth of 19.1%; Margins of 32.9% 9M FY22 Net Profit Growth of 18.1%; Margins of 23.2% Robust profitability growth supported by unique product offerings Revenue Growth of 5.3% to Rs. 5,478 mn EBITDA growth of 19.1% to Rs. 1,802 mn; Margins expanded by 381 bps to 32.9% Net Profit Rs. 1,273 mn compared to Rs. 1,078 mn in 9M FY21; Margins of 23.2%, up 252 bps Technicals + APIs constitute 72% of total revenue during 9M FY22 Revenue of Rs. 1,914 mn; Gross Margins Improved by +772bps to 56.0% YoY EBITDA of Rs. 626 mn; Margins expanded by +611bps to 32.7% YoY Net Profit Rs. 432 mn; Margins improved by +327bps to 22.6% YoY Commenting on the performance, Mr. Anand S. Agarwal, Chairman: “During the quarter our profitability growth momentum continued backed by our efficient business operations and unique product offerings. During the quarter we launched one product which received overwhelming response. As well as for the other product launched in the first half of the fiscal year continued to grow. Our R&D; team and customer acquisition team is working to identify future pipeline of product offerings which can further add significant value to our offerings. Presently we have five upcoming products in pipeline and about to be launched by Q2FY 22-23. During the quarter we further increased our Sandila plant capacity by 500MT. Our progress of the ongoing expansion projects is as per timelines and our expectations. We are confident that our enhanced capacity coupled with new product launches will continue to drive profitable growth for us in the near to medium term.” Result PDF
Financial Highlights H1 FY22 EBITDA Growth of 14.7%; Margins of 33.0% H1 FY22 Net Profit Growth of 16.1%; Margins of 23.6% Distinct product offerings driving consistent sustainable margins Revenue Growth of 5.7% to Rs. 3,564 mn EBITDA growth of 14.7% to Rs. 1,178 mn; Margins expanded by 258 bps to 33.0% Net Profit Rs. 841 mn compared to Rs. 725 mn in H1 FY21; Margins of 23.6%, up 212 bps Cash Flow from Operations of Rs. 650 mn Net cash of Rs. 1,472 mn compared to Rs. 229 mn in full year FY21 Revenue of Rs. 1,823 mn; Gross Margins Improved by +158bps to 55.2% YoY EBITDA of Rs. 587 mn; Margins expanded by +124bps to 32.2% YoY Net Profit Rs. 421 mn; Margins improved by +124bps to 23.1% YoY Commenting on the performance, Mr. Anand S. Agarwal, Chairman: “During the quarter our margins continued to remain strong on back of our niche product offerings. We continued acquiring new customers across the globe supported by our strategy of continuously working towards expanding product portfolio on an ongoing basis to ensure significant business growth. We remain focused on consistently developing and testing new chemicals and developing manufacturing processes in-line with those chemical to deliver products efficiently, with maximum safety of our workers and environment. During the first half of this fiscal, two new technical grade pesticides was introduced. The initial response has been encouraging and expect it to gain further momentum going forward. We are also on track to launch 6 new products across categories which is expected to contribute meaningfully from next fiscal year. We also remain committed to our capex plans to enhance our production capabilities. The progress of the ongoing expansion projects is in-line with our expectations. We are confident that our enhanced capacity coupled with new product launches with drive profitable growth for us in the near to medium term. ” Result PDF