19 Oct 2022 , 07:56 PM
In the first half of the fiscal year, the company saw a sharp spike in the interest financing charges. However, that impact was offset by inventory efficiency gains, which resulted in the cash from operations in the first half of the year almost flat to positive at Rs483 crore.
The fluorochemicals business has been a big beneficiary of the chemicals industry slowdown in China, which has moved more of the global demand to India.
The surge in profits at a rate faster than the growth in sales, can be attributed to two reasons.
Firstly, there was higher forex gains in the quarter and secondly, the company relied on inventory efficiency gains for the quarter to boost its net profits.
Net margins came in at 24.72% for Q2FY23 as compared to 21.49% in the year ago quarter and 22.96% in the sequential June 2022 quarter.
Financial highlights for Sep-22 compared yoy and sequentially
Gujarat Fluoro | |||||
Rs in Crore | Sep-22 | Sep-21 | YOY | Jun-22 | QOQ |
Total Income (Rs cr) | ₹ 1,461.34 | ₹ 964.01 | 51.59% | ₹ 1,333.98 | 9.55% |
Net Profit (Rs cr) | ₹ 361.23 | ₹ 207.15 | 74.38% | ₹ 306.26 | 17.95% |
Diluted EPS (Rs) | ₹ 32.52 | ₹ 18.66 | ₹ 27.62 | ||
Net Margins | 24.72% | 21.49% | 22.96% |
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