Q1FY23 Quarterly Result Announced for Meghmani Finechem Ltd.
Specialty Chemicals firm Meghmani Finechem Announced Q1FY23 Result : Meghmani Finechem’s highest ever Revenue Rs 533 Cr (up 84%) and PAT Rs 108 Cr (up 192%) Revenue of Rs 533 Cr - up 84%, driven by improved realizations and higher sales volume of 5% EBITDA doubled to Rs 187 Cr and EBITDA margin improved to 35% despite high inflationary pressure PAT increased 3 times to Rs 108 Cr and PAT margin stood 20% compared to 13% in Q1FY22 ROCE and ROE improved to 33% (19% in Q1FY22) and 48% (22% in Q1FY22) respectively Commenting on the results Mr Maulik Patel; Chairman and Managing Director – MFL said: “I am pleased with our performance in Q1FY23. We have delivered record operating and financial performance for the quarter. The growth in the quarter is on account of high realizations and volume growth coming from high efficiency/capacity utilization from all the products. In this quarter, we have commissioned India’s first Epichlorohydrin (ECH) plant based on the glycerol process and also we have entered into a JV to set up an 18.34 MW Wind-Solar hybrid power plant for internal consumption. Recently in July, we have also commissioned India’s largest CPVC resin plant. Once these new projects stabilize and reach optimum capacity utilization it will start contributing in a sizeable way both to the top line and bottom line. We expect that to happen Q3FY23 onwards. With all this we are moving in line with our commitments, long term goals and with focus on the environment and sustainability” Result PDF21-07-2022