Insecticides India Q4 turns around to net profit to Rs21.79cr on inventory efficiency gains

Insecticides India reported 7.10% higher consolidated net revenues for the Mar-21 quarter at Rs255.61cr

Jun 18, 2021 04:06 IST India Infoline News Service

Insecticides India reported 7.10% higher consolidated net revenues for the Mar-21 quarter at Rs255.61cr.. On a sequential basis, net sales revenues were down -14.56% compared to total revenues in the Dec-20 quarter at Rs299.17cr.

Full year revenues for FY21 were 2.9% higher at Rs1,402cr. The company has been a direct beneficiary of the growth in agriculture staying robust at 3.4% per annum and higher MSPs assured to farmers by the government. The new formula of cost based assured MSP has given a boost to agro-chem demand.

Net profits in the Mar-21 turned around to a profit of Rs21.79cr as against a net loss of Rs-7.11cr in the Mar-20 quarter. The turnaround in profits came about due to inventory efficiency gains in the latest quarter. The company has also approved a buyback of shares up to a value of Rs.60cr at a price not exceeding Rs.575 per share.

Net margins at 8.52% in the Mar-21 quarter was better than 2.06% in the sequential Dec-20 quarter due to adequate inventory efficiency gains. In FY21, the company wrote off Rs9.70cr as loss due to fraud.


Financial highlights for Mar-21 compared yoy and sequentially


Insecticides India Ltd
Rs in Crore Mar-21 Mar-20 YOY Dec-20 QOQ
Total Income (Rs cr) ₹ 255.61 ₹ 238.67 7.10% ₹ 299.17 -14.56%
Net Profit (Rs cr) ₹ 21.79 ₹ -7.11 N.A. ₹ 6.15 254.31%
Diluted EPS (Rs) ₹ 10.54 ₹ -3.44 ₹ 2.97
Net Margins 8.52% -2.98% 2.06%

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