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India Pesticides revenue rises 27.4% yoy to Rs221.7 crore in Q1FY23; Stock gains 1%

8 Aug 2022 , 09:17 AM

India Pesticides Limited, one of the fastest growing agro-chemical companies in terms of volume of technical manufacturing has announced its results for quarter and period ending June 30, 2022.
Consolidated Q1 FY23 Financial Highlights
  • Revenue Growth of 27.4% to Rs2,217 million
  • EBITDA of Rs590 million; EBITDA Margin of 26.6%
  • Net Profit Rs411 million; Pat Margin of 18.5%
  • Technicals + APIs constitute 78% of total revenue
“During the first quarter company’s revenue rose by 27.4% yoy supported by increased demand of existing products and new product launches. The ongoing global tensions had strong impact on raw material prices during the quarter and increased energy cost also resulted in margin decline.
Meanwhile, the Company also launched first phase of our backward integration for Pretilachlor Technical of 2,000 TPA during first quarter. This will be manufactured in our existing facility known as Sandila Plant. 
The progress towards Hamirpur Facility is also positive where EIA report is under completion and is expected to be submitted by end of the August.”

At around 9:17 AM, India Pesticides was trading at Rs281.85 per share up by Rs3.05 or 1.09% from its previous closing of Rs278.80 per share on the BSE.

Related Tags

  • announcement
  • business operations
  • business update
  • India Pesticides
  • India Pesticides shares
  • India Pesticides stocks
  • launch
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