Speciality Chemicals company Epigral announced Q1FY25 results: Financial Highlights: Highest ever quarterly revenue of Rs 651 crore, growth of 43% YoY and 24% QoQ on account of volume growth Revenue contribution from Derivatives & Specialty segment increased to 53% in Q1FY25 vs 37% in Q1FY24 EBITDA stood at Rs 176 crore vs Rs 95 crore in Q1FY24. Growth of 85% YoY and 14% QoQ EBIDTA margin stood at 27% in Q1FY25 vs 21% in Q1FY24 on account of increase in utilization and volume contribution from new projects commissioned PAT stood at Rs 86 crore. PAT margin stood at 13% vs 7% in Q1FY24 ROCE stood at 21% as on 30th June 2024 vs 17% as on 31st March 2024 Net Debt / EBITDA stood at 1.59x as on 30th June 2024 vs 1.99x as on 31st March 2024 Operational Highlights: Volume grew 29% YoY and 14% QoQ. Major growth comes from Derivatives & Specialty business Capacity utilization stood at 83% in Q1FY25 vs 71% in Q1FY24 QoQ realizations dropped for all the products in range of 1% to 7%, except for Caustic Soda Commenting on the results Maulik Patel; Chairman and Managing Director – Epigral said: “Epigral witnessed highest ever quarterly revenue of Rs. 651 crore in the quarter under review. The company delivered volume growth of 29% YoY and 14% QoQ; this growth is primarily attributed to efficient utilization of capacities and also volume from new projects commissioned. Revenue contribution from Derivatives & Specialty business rose sharply and stood at 53% in Q1FY25 vs 37% in Q1FY24”. “In the April to June 2024 quarter, we commissioned CPVC Resin and Compound facility and by the end of current quarter we expect to commission Chlorotoluenes Value Chain facility, both these projects will drive growth for Epigral in FY2025 and FY2026. We are moving in line with our long term vision to become fully integrated complex catering to diversified industries and grow consistently to create value for our stakeholders.” Result PDF
Conference Call with Epigral Ltd. Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.
Conference Call with Meghmani Finechem Management and Analysts on Q1FY24 Performance and Outlook. Listen to the full earnings transcript.
Specialty chemicals company Meghmani Finechem announced Q1FY24 results: Revenue from operations of Rs 455 crore in Q1FY24 compared to Rs 533 crore in Q1FY23, down 15% YoY EBITDA of Rs 95 crore in Q1FY24 compared to Rs 187 crore in Q1FY23, down 49% YoY PAT of Rs 32 crore in Q1FY24 compared to Rs 108 crore in Q1FY23, down 71% YoY Commenting on the results Maulik Patel, Chairman and Managing Director, MFL said, “FY24 started with a quarter that witnessed global level slowdown and inventory destocking, impacting the chemical industry both at demand level and also at realization level. MFL too got impacted during the quarter gone by, on account of the drop in realizations. However, MFL achieved volume growth of 11% YoY in Q1FY24; this volume growth is in line with our expansion plans resulting in volume coming from CPVC Resin, Epichlorohydrin, and Hydrogen Peroxide. Revenue contribution from Derivatives and Specialty Chemical stood at 38% compared to 21% for a similar period last year. We estimate this volume growth story will continue further as these new projects will further contribute in FY24. Considering our long-term vision, we are on schedule for our expansions of CPVC Resin of 45,000 TPA and Chlorotoluene value chain, this will drive volume growth in FY25. Our R&D; centre is almost ready; hence we are ready with another strong pillar for our future growth in the Specialty Chemical segment. We believe that the current scenario is a phase that will pass and the long-term story remains intact. Hence, we are preparing ourselves for long-term growth and we are moving in that direction. Our board has taken the initiative to rename our company Epigral. This activity is proposed to strengthen our corporate brand in line with our commitment to transform the company as a global multi-product chemical conglomerate and enhance our reputation as an integral partner for esteemed clients and our stakeholders.” Result PDF
Conference Call with Meghmani Finechem Management and Analysts on Q4FY23 Performance and Outlook. Listen to the full earnings transcript.
Specialty Chemicals Company Meghmani Finechem announced FY23 & Q4FY23 results: FY23: Revenue from operations rose 41% to Rs 2,188 crore as against Rs 1,551 crore in FY22 on account of higher realization compared to last year and volume growth from existing products as well as new products Revenue contribution from derivatives & specialty chemical segment increased to 30% in FY23 vs 25% in FY22 EBITDA grew 35% to Rs 689 crore. Margin stood at 31% in FY23 vs 33% in FY22 on account of the high cost of inventory compared to realization PAT grew 40% to Rs 353 crore as against Rs 253 crore in FY22 and PAT margin stood at 16% (16% in FY22) Net debt/EBITDA stood at 1.3x (1.9x in FY22). Net debt/equity stood at 0.8x (1.3x in FY22) Total debt decreased by Rs 112 crore to Rs 877 crore (Rs 989 crore in FY22) Q4FY23: Volume growth of 15% YoY (13% QoQ) – Led by new product CPVC resin and epichlorohydrin contributed and growth in the volume of caustic soda and hydrogen peroxide Capacity utilization of hydrogen peroxide reached 98% and CMS reached 102% Realization - caustic soda dropped by 23%, chloromethanes dropped by 13% and hydrogen peroxide increased by 1% Revenue grew 13% to Rs 562 crore as compared to Rs 499 crore in Q4FY22 on account of volume growth of 15% Revenue contribution from derivatives & specialty chemical segment increased to 38% in Q4FY23 vs 19% in Q4FY22 PAT stood at Rs 77 crore in Q4FY23 as against Rs 99 crore in Q4FY22 Commenting on the results Maulik Patel, Chairman and Managing Director – MFL, said: “FY 2022-23 was a very exciting year, despite business undergoing through lot of volatility. Realizations were at their peak at the start of the year and dropped sharply by the end of the year. Our strategy to diversify in high-value new products and continuous expansion has brought us volume growth of 15% YoY and 13% QoQ. Revenue contribution from Derivatives & Specialty Chemical segment touched 38% of our revenue in Q4FY23 and our efforts are to further enhance revenue share from this segment. All our future expansion plans are towards this segment.” “Our new expansions that got commissioned in FY23, contributed marginally in FY23, however in the current fiscal (FY24) a sizeable volume growth is expected from these commissioned plants. Further expansions that we are currently working in FY24 will drive growth for FY25 With our focus on continuous expansion and strengthening our integrated complex, we are geared to bring consistent growth to business,” he added. Result PDF