Kaveri Seed Co's stock jumps ~1.5% as loss narrows in Q4FY22; achieves revenue of Rs54.56 crore

24 May 2022 , 12:18 PM

Kaveri Seed Company Limited, a leading seed company, has declared its financial results for the Quarter and Year ended March 31, 2022.

The company has logged revenue of Rs54.56 crore in Q4FY22 as compared to Rs55.08 crore in Q4FY21. While revenue for FY22 dipped 7.29% yoy at Rs915 crore as compared to Rs986.98 crore in FY21.

Company’s EBITDA for Q4FY22 was reported at a negative Rs7.10 (-7.10) crore as compared to negative Rs7.77 (-7.77) crore in the previous corresponding quarter. For FY22, EBITDA was reported at Rs238.41 crore as compared to Rs334.89 crore in FY21, down by 28.81% yoy.

Company was able to narrow its loss during the quarter under review at Rs13.09 crore as against a loss of Rs14.32 crore in Q4FY21. However, for FY22, PAT declined by 31.58% yoy at Rs208.90 crore against Rs305.31 crore in FY21.

During FY22 hybrid rice sales were not encouraging, despite that the company has grown its hybrid rice revenues by more than 40% and had gained market share. The prospects for hybrid rice growth during FY23 are better than in FY22.

Kaveri Seed Co. is currently trading at Rs579.45 up by Rs8.05 or 1.41% from its previous closing of Rs571.40 on the BSE. The scrip opened at Rs564 and has touched intraday high and low of Rs585 and Rs564 respectively.