EID Parry Q4FY22 PAT turns around to Rs303 profit on sharp turnaround in agri business operating profits

20 May 2022 , 07:01 AM

EID Parry reported 46.19% increase in revenues yoy for the Q4FY22 quarter on consolidated basis at Rs5,667.34 crore. On a sequential basis, revenues were lower for the quarter by -13.18%.

Full year FY22 revenues were up 26.8% at Rs23,528 crore. The revenue from the nutrients and allied business saw a sharp growth of 57.8% at Rs3,683 crore while the sugar business saw growth of 34.8% at Rs1,150 crore.

The crop protection business saw flat revenues at Rs556 crore in the quarter. Net cash from operation for FY22 more halved due to a sharp spike in the level of inventories in the year due to supply chain constraints.

The consolidated net profit for Q4FY22 turned around to a net profit of Rs302.52 crore against a small net loss of Rs-6.37 crore in the Q4FY21 period.

The turnaround in the profits was driven by a 60% growth in the nutrients business operating profit and sugar moving from operating profit to operating loss.

Net margins were 5.34% in Q4FY22 quarter compared to -0.16% in Q4FY21. NPM was higher compared to 3.49% in Q3FY22. Parry being in the agricultural business has wide seasonal fluctuations in revenues and profits.

Financial highlights for Mar-22 compared yoy and sequentially

	EID Parry
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 5,667.34	₹ 3,876.68	46.19%	₹ 6,527.69	-13.18%
Net Profit (Rs cr)	₹ 302.52	₹ -6.34	N.A.	₹ 227.86	32.77%
Diluted EPS (Rs)	₹ 17.04	₹ -0.37		₹ 12.81
Net Margins	5.34%	-0.16%		3.49%