India Pesticides revenue rises 38.8% yoy to Rs253 crore in Q2FY23; Stock gains 1%

14 Nov 2022 , 09:20 AM

India Pesticides Limited has announced its results for quarter and period ending September 30, 2022.

Consolidated Q2 FY23 Financial Highlights

• Revenue Growth of 38.8% to Rs253 crore
• EBITDA of Rs54.9 crore; EBITDA Margin of 21.7%
• Net Profit Rs37.2 crore; Pat Margin of 14.7%
• Technicals + APIs constitute 73% of total revenue

Consolidated H1 FY23 Financial Highlights

• Revenue Growth of 33.2% to Rs. 474.7 crore
• EBITDA of Rs113.9 crore; EBITDA Margin of 24.0%
• Net Profit Rs78.3 crore; PAT Margin of 16.50%
• Technicals + APIs constitute 75% of total revenue

Strategic Plans

• Present installed capacity of Technicals increased to 23,500 MT from 21,500 MT as on 31.03.2022 after launch of 2,000 MT capacity during Q1 FY23
• Capex outflow of Rs. 70 crores have been planned for FY23
• Targeting further increase of Sandila plant capacity by 4,000 MT
• 2 more manufacturing blocks at the existing Sandila facility are proposed to be used for herbicide Technicals & intermediates
• Hamirpur Plant to likely commence operations in FY23-24
• Hamirpur project EIA report accepted by MOEF & meeting with EAC is scheduled for November

At around 9:18 AM, India Pesticides Ltd is currently trading at Rs265.45 per share down by Rs5.8 or 2.14% from its previous closing of Rs271.25 per share on the BSE.

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