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HomePosts Tagged "financial results for Q2 FY 22-23"
Agro chems – Chemicals, Agro chems – Fertilizers, Company News, Finance, India

Fertilisers segment revenues grow by 47 per cent y-o-y

Deepak Fertilisers and Petrochemicals Corporation Limited, one of India’s leading producers of industrial chemicals and fertilisers (DFPCL), announced its results for the quarter ended September 30, 2022.  The company registered best financial performance with high growth in Q2 and H1. Company’s Q2 FY 2022-23 net profit jumped nearly threefold to Rs 276 crore whereas revenue was up by 51 per cent.

H1review:

The company’s net profit stood at Rs 93 crore during the corresponding quarter of the previous fiscal whereas operating revenue of the company grew by 51.7 per cent to Rs. 2,719 crore during the quarter under review, compared to Rs 1,793 crore in the same period a year-ago. H1 Fertilisers Segment revenues grew by 36 per cent y-o-y with segment margins of 8 per cent. Cost of production inevitably grew due to the sharp rise in the price of raw materials

Q2 review:

Company’s Q2 Fertilisers Segment revenues grew by 47 per cent y-o-y with segment margins of 7 per cent. Although the southwest monsoon started off abnormally, it made a full recovery after June. India received above normal rainfall during the monsoon season (June -Sept) Croptek Cotton and Maize was introduced in Kharif season. Croptek sales volumes received encouraging response during the quarter which was majorly in Cotton, Maize and Sugarcane.Restricted availability of MOP, key source of Potassium i.e ‘K’, majorly impacted Smartek portfolio in Q2. Cost of production has inevitably grown due to the sharp rise in the price of raw materials.

Commenting on the company performance in Q2 and H1, Sailesh C Mehta, Chairman & Managing Director said, “Despite huge RM prices hikes, our pass through remains healthy. Our strong alignment with India growth story provides positive tailwinds to demand growth for our products. Our drive from Commodity to Speciality continues to support premium margins and brand consolidation in the mining chemicals, pharma chemicals and crop nutrition businesses.

 Mehta also added that the unique ADB association has been a very satisfying acknowledgement of the efforts and impact we have been making with providing speciality and crop-specific performance fertilisers and our intense work at the farmer level. Our drive for fast-track project execution for the Ammonia and TAN projects continues full swing.

Fertilisers segment revenues grow by 47

Agro chems – Chemicals, Company News, Finance, India, Institutions

Net profit up by 15.2% YoY

The leading agri input company, Dhanuka Agritech Ltd has announced financial results for the second quarter of FY 2022 has posted Rs 73.02 crore profit during July to September quarter, up by 15.22 per cent from the same quarter last year. The company earned Rs. 63.37 crore net profit in the same period of the previous year. Commenting on the Q2 performance, M K Dhanuka, Managing Director, Dhanuka Agritech said: “We have witnessed reasonable growth in the top line but faced pressure on our margins due to high raw material prices. While the prices of raw materials increased, we did not pass them on to the consumers, which has impacted our margins. Apart from this, the margins were impacted due to the depreciation of the Rupee Vs Dollar”.

“Uneven rainfall has also adversely impacted our top line and bottom line. While one-third area received excess rainfall, one-third area received deficit rainfall and only one-third area received normal rainfall. As a result, sowing was impacted and this in turn has impacted the growth of the industry,” he added,

“However, despite the global volatility, farmers received good returns for their produce as commodity prices remained high globally. This augurs well for the industry. Also, the monsoon recovered to a large extent towards the latter half, and accordingly, the soil has reasonable moisture and dams are full of water. Thus, we expect the Rabi sowing to be good. We are confident a good rabi season is likely to ensure a double-digit growth in the current fiscal,” added M K Dhanuka..

During the second quarter, the company brought three new products into the market Cornex, Zanet and Decide, which have been very well received by farmers. The company has set up the “Dhanuka Agritech Research and Technology Centre” at Palwal, Haryana equipped with all laboratory facilities and a training hall with a capacity of 100 farmers. The R&D centre will be inaugurated this month.

The company also launched a massive campaign in August – ‘India ka Pranam Har Kisan ke Naam’ — to honour and recognise the contribution of Indian farmers in nation-building and helping India become food secure.

Net profit up by 15.2% YoYThe leading

Biofuel industry, Company News, Finance, India

Income from operations stood at Rs 876.58 crore in Q2 FY23

Pune based Praj Industries (Praj), a globally leading process engineering company with a bouquet of sustainable solutions for Bioenergy, Energy transition has announced its unaudited financial results for the quarter ended Sept 30, 2022.

Performance Review for Q2 FY23 – Consolidated:

• Income from operations stood at Rs 876.58 crore (Q1 FY23: Rs 729.87 crore; Q2 FY22: Rs. 532.41

crore)

• PBT is at Rs 65.78 crore for the period (Q1 FY23: Rs 54.23crore; Q2 FY22: Rs 46.77 crore)

• PAT is at Rs 48.13 crore (Q1 FY23: Rs 41.26 crore; Q2 FY22: Rs 33.34)

• Order intake during the quarter Rs. 981 crores (Q1 FY23: Rs. 1094 crore; Q2 FY22: Rs. 745 crore)

Performance Review for H1 FY23 – Consolidated:

• Income from operations stood at Rs. 1606.45 crore (H1 FY22: Rs. 918.67 crore)

• PBT is at Rs. 120.01 crore for the period (H1 FY22: Rs. 76.57 crore)

• PAT is at Rs. 89.39 crore (H1 FY22: Rs 55.54 crore)

• Order intake Rs.2075 crore (H1 FY22: Rs 1406 crore)

Commenting on the company’s performance, Shishir Joshipura, CEO & MD, Praj Industries said, “Our results for the quarter are reflective of continually building favourable business environment. Global economy continued to face headwinds in form of geopolitical situation, high inflation, continued uncertainty and volatility on energy front in several parts of the world. Energy transition is creating several new opportunities for sustainable fuels and we are confident of leveraging them and deliver to our potential”.

Income from operations stood at Rs 876.58

Agro chems – Chemicals, Company News, Finance, Inputs, Seeds

Company records 31 per cent growth in the Crop Care business and 12 per cent growth in Seeds in Q2 FY 22-23

Rallis India Limited, a TATA Enterprise and a leading player in the Indian Agri inputs industry announced its financial results for the second quarter of the financial year ending 30 Sep 2022.

Announcing the results, Sanjiv Lal, Managing Director, and CEO, Rallis India said, “Our Q2 revenues grew more than 31 per cent over last year on the back of 31 per cent growth in the Crop Care business and 12 per cent growth in Seeds.

Within our Crop Care, exports grew by 67 per cent and the domestic formulation business grew by 13 per cent growth. Despite the uneven distribution of monsoon, domestic business leveraged our geographic and portfolio diversity to achieve growth. While margins were satisfactory in the domestic business, international business margins were lower compared to Q2 of the previous financial year. Going forward, we continue to remain focused on our long-term growth plans of new product introduction and capital investment”.

The Company recorded revenues of Rs 951 Crore for the quarter ending September 30, 2022, an increase of 31 per cent over PY of Rs 728 Crore Profit before tax (before exceptional items) was at Rs 95 Crore as compared to PY of profit before tax (before exceptional items) of Rs 76 Crore and the Profit after tax (after exceptional items) was Rs71 Crore as compared to PY profit after tax (after exceptional item) of Rs 56 Crore

Key Highlights – H1

The Company recorded revenues of Rs1814 Cr for the period ended September 30, 2022, an increase of 24 per cent over PY of Rs 1468 Crore Profit before tax (before exceptional items) was at Rs 186 Crore as compared to PY of profit before tax (before exceptional items) of ₹186 Cr and the Profit after tax (after exceptional items) was Rs 139 Crore, as compared to PY profit after tax (after exceptional item) of Rs 139 Crore.

Company records 31 per cent growth in