India Pesticides reports 18.1% YoY growth in PAT for Q3 FY'22, stock jumps near 3%

4 Feb 2022 , 12:16 PM

India Pesticides Ltd., one of the fastest-growing Agrochemical companies in terms of volume of technical manufacturing, announced results for the third quarter ended December 2021 and reported satisfactory performance in the quarter.

The company’s consolidated revenue grew by 56% YoY at Rs 191.40 crore for Q3 FY’22. Its EBITDA for the quarter ended December 2021 stood at Rs 62.60 crore, EBITDA margin stood at 32.7% gaining 611 bps over the last quarter.

Company’s PAT stood at Rs 43.20 crore for the December 2021 quarter. While PAT margin expanded by 327 bps to 22.6%.

Company’s revenue for the 9M period was reported at Rs 547.80 crore, registering a growth of 5.3% YoY. Its EBIDTA for the 9M period stood at Rs 180.20 crore growing over 19.1% YoY. EBIDTA Margin for the current 9M period settled at 32.90%, expanding by 381 bps.

Company’s PAT for 9M ending Q3 FY’22 stood at Rs 127.30 crore against Rs 107.80 crore for the corresponding 9M period, registering a growth of 18.09% YoY. PAT margin for the 9M period expanded by 252 bps at 23.2%.

“During the quarter our profitability growth momentum continued backed by our efficient business operations and unique product offerings. Our progress of the ongoing expansion projects is as per timelines and our expectations. We are confident that our enhanced capacity coupled with new product launches will continue to drive profitable growth for us in the near to medium term,” commented Mr. Anand S. Agarwal, Chairman, India Pesticides.

India Pesticides was last trading at Rs322 up by Rs9.65 or 3.09% from its previous closing of Rs312.35. The scrip opened at Rs306.20 and has touched a high and low of Rs323 and Rs305.60 respectively.