Q4FY24 Quarterly & FY24 Annual Result Announced for Paradeep Phosphates Ltd.
Fertilizers company Paradeep Phosphates announced Q4FY24 & FY24 results: Total Income from Operations: FY24: Rs 11,575 crore, down by 13% YoY. Q4FY24: Rs 2,243 crore, down by 38% YoY. The reductions are attributable to a decrease in product subsidies. EBITDA: FY24: Rs 717 crore, down by 20% YoY. Q4FY24: Rs 178 crore, up by 11% YoY. Production Volumes: FY24: 2,304,969 MT, up by 13% YoY. Q4FY24: 470,429 MT. Finished Fertilizer Production: Paradeep site: FY24: 1,425,845 MT, up by 10% YoY. Q4FY24: 319,850 MT. Goa site: FY24: 879,124 MT, up by 19% YoY. Q4FY24: 150,579 MT. Total Sales Volume: FY24: 2,527,119 MT, compared to 2,029,287 MT in FY 2022-23. Commenting on the results, N Suresh Krishnan, Managing Director & CEO, PPL said, “The fiscal year 2023-24 brought significant macroeconomic changes. We witnessed global uncertainty, experienced average rainfall, and benefited from the normalization of raw material prices worldwide, although this was accompanied by a decrease in subsidy realizations. Despite these fluctuations, we achieved positive volumes, producing 2.3 million tons of various grades of DAP and NPK fertilizers throughout the year—an increase of 13% compared to last year. Furthermore, our sales reached nearly 2.53 million tons across various states in India, marking a 25% increase from the previous year. We also managed our debt effectively reducing it by 14% YoY. Looking ahead, we are gearing up to introduce innovative grades of soil and crop specific NPK fertilizers. We are also in the process of launching our own researched biogenic nano-urea and nano-DAP fertilizers, which promises a significant value addition to soil nutrition. Our commitment to sustainability has also been recognized, with our first-time entry into the S&P;’s DJSI index. We remain dedicated to advancing our ESG goals and making sustainability a central theme in all our operations. With an expectedly better monsoon season ahead, we are fully prepared to meet the demands of the Kharif season with an optimal product mix, enhanced farmer engagement, and improved operational efficiencies.” Result PDF16-05-2024