Ami Organics Ltd - 543349 - Earnings Call Recording Q2FY24
Audio Recording of Earnings Call on the Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 202309-11-2023
09-11-2023
Q2FY24 Quarterly Result Announced for Ami Organics Ltd.
Pharmaceuticals company Ami Organics announced Q2FY24 results: Revenue from operations for Q2FY24 grew by 17.3% YoY to Rs 1,724 million The Gross margin for Q2FY24 was at 41% as compared to 48% in Q2FY23. Lower gross margins were on account of high price erosion and higher sales of low-margin products EBITDA for Q2FY24 came at Rs 248 million down 11.8% YoY compared to Rs 281 million in Q2FY23 EBITDA margin for Q2FY24 was at 14.4% as compared to 19.1% in Q2FY23, the drop of 470bps was on account of gross margins as well as higher employee cost, which was driven by annual increments, ESOP, and hiring for the Ankleshwar unit Adjusted PAT for Q2FY24 was Rs 147 million, down 22.6% YoY as compared to Q2FY23. Export at 54%; domestic business at 46% Commenting on results, Naresh Patel, Executive Chairman & Managing Director, Ami Organics, said, “I am pleased to report a 17% YoY growth, with revenue from operations of Rs 172 crore for Q2FY24, despite facing downward pricing pressures. Even as we navigated the low-demand landscape and delivered growth, our margins took a hit this quarter driven by high pricing pressure and higher sales of low-margin products. Still, our strong order book points to a robust second half of FY24. On the business front, Advance Pharmaceutical business delivered steady growth of ~8% YoY, even as a global customer delayed the launch in certain markets impacting our growth for Q2FY24. Further extending our relationship with Fermion, we have signed one more contract for Advanced Intermediates for their product taking total products under the CDMO contract to 3, enhancing revenue visibility for the coming years. On the specialty chemicals side, we delivered strong 72% growth YoY, driven by robust volume. The launch of a new UV Observer product is set to enhance our portfolio, contributing to our financials from Q3FY24. In our commitment towards sustainability and operational cost reduction, the board has approved investment in a 16 MW solar power plant which along with an already work-in-progress 5 MW solar power plant will nullify our electricity expense once fully operational. Deferment in product launch in certain markets by a global customer coupled with pricing pressure due to oversupply from China is expected to have some impact on the numbers and even though we are expecting to deliver robust H2FY24, overall, we are modifying our growth target from 22-25% for the full year to 18-22% growth for FY24.” Result PDF09-11-2023
Ami Organics Ltd - 543349 - Announcement under Regulation 30 (LODR)-Investor Presentation
Investor Presentation on financial results and other matters for the quarter and half year ended September 30, 2023 as attached.09-11-2023
Ami Organics Ltd - 543349 - Announcement under Regulation 30 (LODR)-Press Release / Media Release
Press Release discussing the financial results for the quarter and half year ended September 30, 2023 as attached.09-11-2023
Ami Organics Ltd - 543349 - Statement Of Deviation Or Variation For The Quarter Ended September 30, 2023
Statement of Deviation or Variation under Regulation 32 of SEBI LODR Regulations, 2015 as per details attached09-11-2023
Ami Organics Ltd - 543349 - Related Party Transactions For The Half Year Ended September 30, 2023
Related Party Transactions for the half year ended September 30, 2023 is as per details attached.08-11-2023
Ami Organics Ltd - 543349 - Unaudited Standalone And Consolidated Financial Results For Second Quarter And Half Year Ended September 30, 2023
Board approved the unaudited Standalone and Consolidated financial results for the quarter and half year ended September 30, 2023 as per details attached.08-11-2023
Ami Organics Ltd - 543349 - Board Meeting Outcome for Outcome Of Board Meeting Held On November 8, 2023
The Board of Directors of the Company at their meeting held on Wednesday, November 8, 2023, inter alia, considered & approved Unaudited Standalone & Consolidated Financial Results of the Company for the second quarter & half year ended September 30, 2023 as attached.08-11-2023
Ami Organics Ltd - 543349 - Intimation Of Earnings Conference Call Scheduled To Be Held On November 9, 2023 At 12.00 P.M(IST)
Earnings conference call schedule as per the details attached.02-11-2023
Ami Organics Ltd - 543349 - Board Meeting Intimation for Approval Of Unaudited Financial Results For The Quarter & Half Year Ended September 30, 2023 To Be Held On November 8, 2023.
Ami Organics Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 08/11/2023 ,inter alia, to consider and approve Unaudited Standalone and Consolidated Financial Results for the quarter & half year ended September 30, 2023 to be held on November 8, 2023 as per details attached.02-11-2023