Laxmi Organics Q4FY22 PAT up 57.95% at Rs57.40 crore yoy on tax credits due to excess provisions

5 May 2022 , 12:48 AM

Laxmi Organics Ltd reported 69.36% growth in sales revenues yoy for the Q4FY22 quarter on consolidated basis at Rs879.86 crore. On a sequential basis, revenues were higher for the quarter by 2.32%.

For the full year FY22, the revenues were higher by 74.3% at Rs3,084 crore. The board has recommended a dividend of Rs0.70 per share.

The demand for specialty chemicals picked up in the quarter on the back of revival in most of the user industries, as well as global demand due to supply chain constraints imputed by China.

The consolidated net profit for Q4FY22 was up 57.95% at Rs57.40 crore while it was down on a sequential basis by -30.07%. The cash generated from operations fell in FY22 due to a spike in inventory costs and trade receivables.

There was also an 80% spike in raw material costs, which outdid the growth in sales. However, this situation was rectified by the tax credits received in the year against excess provisions made previously by the company.

Net margins stood at 6.52% in Q4FY22 quarter compared to 6.99% in Q4FY21. NPM was lower sequentially against 9.55% in Q3FY22.

Financial highlights for Mar-22 compared yoy and sequentially

	Laxmi Organics
Rs in Crore	Mar-22	Mar-21	YOY	Dec-21	QOQ
Total Income (Rs cr)	₹ 879.86	₹ 519.52	69.36%	₹ 859.88	2.32%
Net Profit (Rs cr)	₹ 57.40	₹ 36.34	57.95%	₹ 82.08	-30.07%
Diluted EPS (Rs)	₹ 2.28	₹ 1.55		₹ 3.07
Net Margins	6.52%	6.99%		9.55%