Insecticides India reports 35% yoy growth in PAT at Rs8.30 crore for Q3FY22

11 Feb 2022 , 04:34 PM

Insecticides (India) Ltd. reported total revenue of Rs314.65 crore in December 2021, up by 4.81% yoy, against Rs300.20 crore in December 2020. Revenue for the 9M period ended December 2021 stood at Rs1,228.16 crore as against Rs1,171.83 crore for the corresponding 9M period, up by 4.81% yoy.

Company’s quarterly Net Profit (PAT) stood at Rs8.30 crore in December 2021, as compared to Rs6.15 crore in December 2020, recording a growth of 34.96% yoy. PAT for the 9M period ended December 2021 stood at Rs85.09 crore as compared to Rs72.12 crore for 9M ended Q3FY21, registering a growth of 17.98% yoy.

EBITDA stands at Rs18.58 crore in December 2021 against Rs15.07 crore in the previous corresponding quarter, up by 23.29% yoy. Its EBITDA for the 9M period ended December 2021 stood at Rs135.82 crore as against Rs122.03 crore for the 9M ended December 2020, gaining 11.30% yoy.

EBITDA margin for the December 2021 quarter stood at 5.92% against 5.04% for the previous corresponding quarter. Net Profit margin reported at 2.63% for Q3FY22.

The company’s exports have increased to 15% in Q3FY22 from 5% in Q3FY21.

“The third quarter has been relatively subdued quarter for the entire agro-chemical industry, due to the building threat of Covid-19, unseasonal rains in parts of our country and damp market conditions. The scaling up of new products already launched in previous quarters has been hampered by barriers in working with the farmers on the grass root level, due to the looming third wave threat of Omicron variant of Covid-19. However, IIL has delivered a consistent performance in terms of Revenue and Sales volume in Q3 FY22, focussing on exports as per its growth plan for the current fiscal year,” commented Mr. Rajesh Aggarwal, Managing Director of IIL.

Insecticides India Ltd ended at Rs679.85 down by Rs27.4 or 3.87% from its previous closing of Rs707.25 on the BSE. The scrip opened at Rs698.95 and touched an intraday high and low of Rs706.25 and Rs674.45 respectively.