Connect with:
Thursday / November 21. 2024

logo
mobile-logo
HomePosts Tagged "financial results for Q1 FY25"
Agribusiness, Agro chems – Chemicals, Company News, Finance, India

Company reported PAT Rs 331 Cr in Q1 FY25 vs Rs 505 Cr in Q1 of previous year.

Coromandel International Limited, India’s leading Agri solutions provider is in the business of Fertilisers, Crop Protection Chemicals, Bio products, Specialty Nutrients, Organic Fertilizer and Retail. The Company has reported the financial results for the quarter ended 30th June 2024. Company’s total income for the quarter ended June 2024 was at Rs 4,783 Cr vs. Rs 5,740 Cr for the quarter ended June 2023. The profit after tax for the quarter was at Rs 309 Cr as against Rs. 494 Cr for the quarter ended June 2023. Company’s EBITDA for Q1 was Rs. 507 Cr vs. Rs 710 Cr in Q1 of previous year. Company reported PAT Rs 331 Cr in Q1 FY25 vs Rs. 505 Cr in Q1 of previous year.

Nutrient and Allied Business

The Revenue for the quarter ended June 2024 was at Rs 4,198 Cr as against Rs. 5,192 Cr for the quarter ended June 2023, registering a year-on-year de-growth of 19 per cent. Profit before interest and tax for the quarter was Rs 436 Cr vs. Rs. 672 Cr for the quarter ended June 2023.

Crop Protection Business

The Revenue for the quarter ended June 2024 was at Rs 551 Cr as against Rs. 556 Cr for the quarter ended June 2023. Profit before interest and tax for the quarter was Rs 63 Cr vs. Rs 55 Cr for the quarter ended June 2023.

Commenting on the financial results, S Sankarasubramanian, Managing Director & CEO, Coromandel International Ltd. said, ″During the quarter, Coromandel made sequential recovery, registering healthy volume sales in Nutrients and Crop Protection businesses despite the delay in onset of monsoons. However, margins for the fertilizers business were impacted due to lower subsidy rates and rise in input costs.

Strengthening its backward integration capabilities has been one of the core focus areas for the company. Towards this, the fertilizer business has commenced activities for its Phosphoric acid (650 tpd)-Sulphuric acid (2000 tpd) complex at Kakinada. Further, to improve the operational efficiency and throughput at its phosphate mines at BMCC, Senegal, the company is setting up a fixed processing plant which is expected to be commissioned during the 2nd quarter of the year. During the quarter, the company commissioned Nano DAP plant at Kakinada and has set up Urea Super Phosphate unit at Nimrani, MP.

Crop Protection business volumes improved by 5 per cent driven by growth in technical and formulations. The company introduced ten new products during Q1 including four patented products. Its inlicenced formulation ‘Prachand’ has received very encouraging response from the market and business intends to introduce such novel formulations in coming periods by partnering with global innovators. The business has also finalized plans for setting up multi product plants for herbicide and fungicide manufacturing and activities for the same will commence during the year. The company continues to take progressive steps in strengthening its capabilities in Speciality chemicals and CDMO space.

Company reported PAT Rs 331 Cr in

Agribusiness, Company News, Finance, India

Profit Before Tax for the quarter stood at Rs 3,158 million, compared to Rs 4,061 million in the corresponding quarter of the previous financial year.

Bayer CropScience Limited announced its unaudited results for the first quarter (Q1) of Financial Year (FY) 2024-25. For Q1 ended June 30, 2024, the Company registered Revenue from Operations of Rs 16,312 million, compared to Rs 17,396 million in the corresponding period of FY 2023-24. Profit Before Tax for the quarter stood at Rs 3,158 million, compared to Rs 4,061 million in the corresponding quarter of the previous financial year.

Commenting on the quarterly results, Simon Wiebusch, Vice Chairman/Managing Director and CEO, Bayer CropScience Limited said, “Despite the slow progression of monsoons and the impact of low reservoir levels on our first quarter, we still achieved a 3 per cent growth in liquidation. Business picked up towards the end of June, coinciding with increased farming activity, indicating a positive market shift. However, supply constraints in our seeds business affected availability and increased the cost of corn seeds. Although revenue from operations declined, we maintain optimism for the upcoming season due to promising monsoon coverage across the country. Nevertheless, we remain sensitive to rain distribution, cropping patterns, and price pressure resulting from high industry inventories.”

Simon Britsch, Chief Financial Officer, Bayer CropScience Limited, while speaking about the quarterly results said, “We continue to focus on sustained operational expense management and rigorous working capital discipline, including targeted efforts in receivable collections. As we look forward, we maintain an optimistic outlook on our future prospects, confident in our ability to build momentum and steady growth investments.”

Profit Before Tax for the quarter stood

Agribusiness, Biofuel industry, Finance, India

Company has reported Rs 841.80 million Profit After Tax (PAT) in Q1FY25.

Pune based Praj Industries (Praj), announced its unaudited financial results for the quarter ended June 30, 2024. In Q1 FY25 company’s income from operations stood at Rs. 6,991.41 million (Q1 FY24: Rs. 7,367.22 million; Q4 FY24: Rs.10,185.64 million). Company’s Profit Before Tax before exceptional items is at Rs. 788.80 million for the period (Q1 FY24: Rs. 777.03 million; Q4 FY24: Rs. 1,230.23 million). PBT after exceptional items Rs. 1,070.37 million. Company has reported Profit After Tax (PAT) Rs 841.80 million in Q1FY25 (Q1 FY24: Rs. 586.72 million; Q4 FY23: Rs. 919.36 million). Order intake during the quarter is Rs. 8,880 million.

Commenting on the Company’s performance, Shishir Joshipura, CEO & MD, Praj Industries said, “This quarter’s performance reflects the changing dimensions of the business dynamics. We are witnessing a healthy build-up of opportunities in key strategic areas of the company’s business. Our continued focus on innovation at the leading edge of technology will enable us deliver healthy performance going forward.”

Key Developments:

• International order booking comprises 42 per cent from international markets.

• Praj has successfully produced the first batch Lactic Acid 90 per cent, a building block for bioplastic, at its State-of-the-art demonstration plant for BioPolymers in Jejuri near Pune.

• Praj has established a Centre of Excellence & Innovation (CoEI) with Vasantdada Sugar Institute for

the Integration of Farm to fuel model with alternate feedstock development

Company has reported Rs 841.80 million Profit

Agribusiness, Agro chems – Chemicals, Agro chems – Fertilizers, Agro chems – Pesticides, Finance, India

Company’s EBITDA Q1 grows 64.5 per cent Y-O-Y to Rs. 71.72 Crore

Dhanuka Agritech, one of the leading agrochemicals companies in India reported financial results for the first quarter of 2024-25 financial year. Gurugram-headquartered firm clocked Rs. 48.90 crore profit during April-June quarter of FY’25, up 48.5 per cent from the same quarter of the previous fiscal year. Total income grew 33.27 per cent to Rs. 500.71 Crore in the first quarter of this fiscal from Rs. 375.72 Crore in the corresponding period of FY’24.

Commenting on the Q1 performance, Mahendra Kumar Dhanuka, Vice Chairman & Managing Director said, “The year has started on a positive note, and we have witnessed decent demand for all our product categories during the first quarter. The timely arrival of the monsoon and dwindling inventory levels have contributed to increased orders from the distribution network, setting a positive trajectory for the company.”

“I am happy to inform you that the sowing season is in full swing in July and the sowing acreages for major crops are expected to be higher in the ongoing season, particularly in the wake of the prediction of a normal monsoon. The management is confident of delivering healthy growth in the second quarter and improving the EBITDA margins,” added Dhanuka.

Dhanuka Agritech is also dedicated to introducing new technologies to the agriculture sector. The company conducts training programs nationwide to demonstrate these technologies and educate farmers on the proper use of agrochemicals. Notably, in India, the consumption of agrochemicals per acre remains significantly lower than the global average.

Company’s EBITDA Q1 grows 64.5 per cent