INSECTICIDES (INDIA) LTD. - 532851 - Disclosure Of Related Party Transactions For The Year Ended September 30, 2022
In terms of Regulation 23(9) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, please fmd enclosed herewith disclosure of Related Party Transactions for the half year ended September 30, 2022, in the format specified under SEBI Circular SEBIIHOICFD/CMDI/CIR/P/2021/662 dated November 22, 2021. INSECTICIDES (INDIA) LTD. - 532851 - Announcement under Regulation 30 (LODR)-Earnings Call Transcript
Transcript of the Earnings Call for the quarter and half year ended September 30, 2022 INSECTICIDES (INDIA) LTD. - 532851 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
Audio Recording of the Earnings Call for the quarter and half year ended September 30, 2022 Q2FY23 Quarterly Result Announced for Insecticides (India) Ltd.
Agrochemical company Insecticides (India) announced Q2FY23 results: Consolidated Q2FY23 vs Q2FY22: The revenue from Operations has grown by 31.15% from Rs. 4,439.39 million in Q2FY22 to Rs. 5,822.09 million in Q2FY23. The EBITDA increased by 6.68% from Rs. 641.69 million in Q2FY22 to Rs. 684.54 million in Q2FY23. EBITDA margins declined from 14.45% in Q2FY22 to 11.76% in Q2FY23 on a YoY PAT increased by 7.05% from Rs. 418.79 million in Q2FY22 to Rs. 448.33 in Q2FY23. PAT margins decreased from 9.43% in Q2FY22 to 7.70% in Q2FY23. Consolidated H1FY23 vs H1FY22: Revenue from operations recorded a growth of 25.29% from Rs. 9,122.00 million in H1FY23 to Rs. 11,428.99 million in H1FY23 The EBITDA increased by 8.24% from Rs. 1,172.51 million in H1FY22 to Rs. 1,269.08 million in H1FY23 and the EBITDA margins de-grew from 12.85% in H1FY22 to 11.10% in H1FY23. PAT stood at Rs. 831.42 million in H1FY23 as compared to Rs. 768.32 million in H1FY22 recording a growth of 8.20% and PAT margins stood at 7.28% in H1FY23 as compared to 8.42% in H1FY22. Total fixed assets (tangibles inc. CWIP) grew by 24.96% from Rs. 2,717.25 million in H1FY22 to Rs. 3,395.68 million in H1FY23 owing to the CAPEX incurred. Current assets stood at Rs. 13,890.55 million in H1FY23 as compared to Rs. 10,445.39 million in H1FY22. Long term borrowings stood at Rs. 29.37 million in H1FY23, compared to Rs. 18.61 million in H1FY23 and Short-term borrowings at Rs. 2,709.73 million in H1FY23, compared to Rs. 1,908.90 million in H1FY22 The working capital cycle has marginally decreased to 153 days in H1FY23 as compared to 159 days in H1FY22. The debt Equity ratio stood at 0.29 in H1FY23 compared to 0.23 in H1FY22 owing to the increase in the short-term borrowings Cash flow from operations stands at Rs. (1,977.03) million in H1FY23 as compared to Rs. (803.56) million in H1FY22. Commenting on the performance of Q2 and H1FY23, Mr. Rajesh Aggarwal (MD) and the management team said:“We are very happy to share that we had a modest quarter and half year, both in terms of financial performance and in terms of market acceptance of our newly launched products in last fiscal year. On the financial front, IIL has recorded revenue from operations of Rs. 5,822.09 million & EBITDA of Rs. 684.54 million for Q2FY23, thus delivering a growth of 31.15% in terms of revenue and 6.68% in terms of EBITDA. The EBITDA margins subsided by -269 bps in Q2FY23 on a YoY basis mainly due to the increased cost of raw materials and the EBITDA margins improved by 133 bps on QoQ basis, mainly due to improved product mix and stabilized cost of inventory. Further, for H1FY23, revenue stood at Rs. 11,428.99 million and EBITDA stood at Rs. 1,269.08 million. The EBITDA margins declined by -175 bps in H1FY23 owing mainly to the increase in cost of raw materials as compared to H1FY22. Revenue growth was majorly driven by following: Products launched in FY22 recorded a revenue of ~Rs.929.93 million in H1FY23, contributing to ~8% of the revenue from operations, as compared to Rs.246.40 million in FY22. This shows the market acceptance of our products among the targeted customers. Our R&D; initiatives are being recognized as successful innovations in the form of several patents being granted in H1FY23, taking our total patented products to 18, which have performed better than expectations. The Herbicides business has done extremely well in this half year and they now contribute to ~41% in H1FY23 as compared to ~33% in H1FY22. Focused Maharatna products (premium of 11 product range consisting of the top Maharatna brands which are high-ranking in nature with superior margins) have performed really well in this half year and our total Maharatna products contributed to ~58% in H1FY23 as compared to ~55% in H1FY22. During H1FY23, we witnessed softening of cost of basic raw materials, however the currency headwinds has limited the positive impact of the same. Further, as there is a market acceptance of our products launched in FY22, we can confidently say that the margins will further improve in the H2 as well. Further, our working capital cycle has reduced to ~153 days in H1FY23. There has been slight increase in debtor days owing to delayed monsoons, which led to poor cash flows in the market. However, we believe that this is a temporary phenomenon, expected to reverse in the upcoming quarters. In lines with our continuous efforts and focus towards research & innovation, we are pleased to inform that we have successfully obtained 9(3) registration for Cyazofamid 34.5% SC. Since product registration is a lengthy and gestational exercise in our industry, we expect our sustained efforts at data generation & registration to yield several product registrations in developed international markets in the next two years. On the exports front, we continue to witness good demand, however we focused on exports in a calibrated manner, retaining our caution on the currency movement and likely distress of foreign debtors. We expect the exports to pick-up in H2 FY23, thereby enabling us to meet our exports target for FY23. The export sales works towards removing the quarterly cyclicality of the business. During this quarter, we have received a GLP certification for one of our testing facilities at Chopankhi, Rajasthan, which showcases our unwavering commitment to produce highest quality products with most efficient processes. As a constant endeavour to enhance our presence in the biological markets, we have incorporated a wholly owned subsidiary by the name of “IIL Biologicals Ltd”. Result PDF INSECTICIDES (INDIA) LTD. - 532851 - Newspaper Advertisement On Extract Of Unaudited Financial Results For The Quarter And Half Year Ended September 30, 2022
Newspaper advertisement pertaining to Extract of Unaudited Financial Results for the Quarter and half year ended September 30, 2022 INSECTICIDES (INDIA) LTD. - 532851 - Earning Presentation And Press Release For Q2 & HI FY2023 Results
Earning Presentation for the Quarter and Half year ended September 30, 2022
Insecticides India Q2 net profit rises 6.9% YoY to Rs 44.8 crore, revenue up 31%
Insecticides India's net profit, apart from rising on-year, has also jumped sequentially as it stood at Rs 38.3 crore during Q1. INSECTICIDES (INDIA) LTD. - 532851 - The Un-Audited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended September 30, 2022
The Board of Directors at the meeting held today, i.e November 07, 2022 inter alia considered and approved the Un-audited Standalone and Consolidated Financial Results of the Company for the Quarter and half year ended September 30, 2022 INSECTICIDES (INDIA) LTD. - 532851 - Board Meeting Outcome for Outcome Of The Board Meeting
The Board of Directors at the meeting held today, i.e November 07, 2022 inter alia considered and approved the Un-audited Standalone and Consolidated Financial Results of the Company for the Quarter and half year ended September 30, 2022 along with Limited Review Report of M/s S S Kothari Mehta & Company and M/s Devesh Parekh & Co., Joint Statutory Auditors of the Company on the Financial Statements. INSECTICIDES (INDIA) LTD. - 532851 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
Update on Earning Conference call Registration Link