Q2FY22 Quarterly Result Announced for India Pesticides Ltd.
Financial Highlights H1 FY22 EBITDA Growth of 14.7%; Margins of 33.0% H1 FY22 Net Profit Growth of 16.1%; Margins of 23.6% Distinct product offerings driving consistent sustainable margins Revenue Growth of 5.7% to Rs. 3,564 mn EBITDA growth of 14.7% to Rs. 1,178 mn; Margins expanded by 258 bps to 33.0% Net Profit Rs. 841 mn compared to Rs. 725 mn in H1 FY21; Margins of 23.6%, up 212 bps Cash Flow from Operations of Rs. 650 mn Net cash of Rs. 1,472 mn compared to Rs. 229 mn in full year FY21 Revenue of Rs. 1,823 mn; Gross Margins Improved by +158bps to 55.2% YoY EBITDA of Rs. 587 mn; Margins expanded by +124bps to 32.2% YoY Net Profit Rs. 421 mn; Margins improved by +124bps to 23.1% YoY Commenting on the performance, Mr. Anand S. Agarwal, Chairman: “During the quarter our margins continued to remain strong on back of our niche product offerings. We continued acquiring new customers across the globe supported by our strategy of continuously working towards expanding product portfolio on an ongoing basis to ensure significant business growth. We remain focused on consistently developing and testing new chemicals and developing manufacturing processes in-line with those chemical to deliver products efficiently, with maximum safety of our workers and environment. During the first half of this fiscal, two new technical grade pesticides was introduced. The initial response has been encouraging and expect it to gain further momentum going forward. We are also on track to launch 6 new products across categories which is expected to contribute meaningfully from next fiscal year. We also remain committed to our capex plans to enhance our production capabilities. The progress of the ongoing expansion projects is in-line with our expectations. We are confident that our enhanced capacity coupled with new product launches with drive profitable growth for us in the near to medium term. ” Result PDF02-11-2021