Chemcon Speciality rallies after Q1 PAT climbs 90% YoY

10 Aug 2022 , 10:32 AM

Profit before tax (PBT) jumped 89% year-on-year to Rs 34.14 crore in Q1 June 2022. EBITDA rose 87.8% to Rs 33.6 crore in Q1 FY23 as against Rs 17.9 crore in Q1 FY22. EBITDA margin stood at Rs 37.5% in Q1 FY23 as against 31.2% in Q1 FY22. Total expense climbed 42% YoY to Rs 55.86 crore in Q1 FY23. Cost of raw material consumed stood at Rs 45.58 crore (up 67.4% YoY) and employee expenses stood at Rs 5.64 crore (up 32.1% YoY). The companys revenue from the domestic business stood at 53% while revenue from exports was at 47%. Production volume jumped to 2,051 MTPA in Q1 FY23 as against 1,883 MTPA in Q4 FY22 and 1,428 in Q1 FY22 . Kamal Aggarwal, chairman & MD said, We are delighted to report the highest ever quarterly performance led by healthy demand across the product portfolio. Both HMDS and CMIC are gaining traction and are currently performing satisfactorily. CMICs newly expanded capacity is also contributing to the growth, and production is expected to ramp up in the coming quarters. On the other hand, the Bromide chemicals have recorded a strong performance on the back of a high-order book. We anticipate consistent performance from these chemicals in the coming months. Commercial production of P9 unit is expected to commercialize by end of Q2FY23 whereas we are targeting P10 unit to commence by end of this financial year. Post expansion program, we will be well prepared to arrest the upcoming opportunities not only for existing products but also for new products. Some of the new products which we are targeting are primarily imported substitutions. The companys board approved an interim dividend of Rs 4 per share for the FY 2022-23. Chemcon Speciality Chemicals is a leading manufacturer of specialized chemicals, such as Hexamethyldisilazane (HMDS), Chloromethyl Isopropyl Carbonate (CMIC) and inorganic bromides. Powered by Capital Market – Live News