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HomePosts Tagged "financial results for Q4FY23"
Agribusiness, Animal Health, Company News, Finance, Goat farming, India, Live Stock, Poultry

Net Profit of the company for Q4FY24 was up 12 per cent to Rs. 6.40 crore as compared to the net profit of Rs. 5.71 crore in Q4 FY23.

Ahmedabad based Hester Biosciences Limited, one of India’s leading animal health company, manufacturing vaccines and health products has reported consolidated revenue from operations of Rs 79.26 crore for the Q4FY24, growth of 18 per cent Y-o-Y from revenue of Rs. 67.30 crore in Q4FY23. Operating profit during the quarter ended March 2024 was reported at Rs. 16.40 crore, 37 per cent growth Y-o-Y from Rs. 11.97 crore in Q4FY23. Net Profit of the company for Q4FY24 was up 12 per cent to Rs. 6.40 crore as compared to the net profit of Rs. 5.71 crore in Q4 FY23. Company has recommended dividend of Rs. 6 per equity share of Rs. 10 each (60 per cent) for the financial year 2023-24, subject to approval of members at the ensuing Annual General Meeting. Consolidated results include operations of subsidiaries from Nepal and Tanzania.

Animal Healthcare Division

In Q4 FY24, the Animal Healthcare division experienced a growth which is attributed to:

1.  Consistent sales of the Goat Pox vaccine, supporting the preventive vaccination program against the Lumpy Skin Disease in Cattle, and continued supplies of the PPR vaccine for Sheep and Goat for the Government of India’s National Immunisation Programs.

2.Along with vaccines, health product sales experienced a growth as well. It is worth noting, this growth is achieved even after the discontinuation of two products, CurX Injection and iSumovet, totaling to a loss of sales in response to new drug regulations prohibiting the use of Ketoprofen for animal treatment. This growth reflects the division’s resilience and ability to adapt and pick the momentum back, despite of challenges which are not under our control.

Poultry Healthcare Division

In Q4 FY24, the Poultry Healthcare division achieved a commendable growth of 22 per cent.

1.This growth trajectory has been consistent throughout the year, with each quarter surpassing the previous in terms of sales performance. Hence, from an annual perspective, the division has demonstrated improved sales compared to the previous years.

2.This turnaround can be attributed to – recouping of the Poultry Industry, the introduction of diverse products to meet the evolving needs of poultry farmers and further capitalising that existing market opportunities.

Petcare Division

In Q4 FY24, the Petcare division experienced a marginal sales dip of ₹0.18 crore compared to the previous quarter. However, considering the cumulative performance for FY24, the division achieved a growth of 49%, reaching sales of Rs 2.64 crore. This growth reflects the culmination of substantial efforts in building a robust foundation, implementing best practices, and delivering high-quality products.

Way Forward

Animal Healthcare

· Anticipating double digit growth in the dairy sector, we aim to capitalise on this trend by expanding our product offerings.

· The small ruminant marketing will also be seeing a growth and we shall be expanding our presence further in this segment.

· We will be introducing 6 new specialised products to meet the evolving needs of the growing market and address the customer needs as well as expand our product portfolio.

Poultry Healthcare

· With the poultry industry stabilising, we foresee growth opportunities driven by increasing demand for poultry products.

· With our focus on innovation, we have acquired technology to develop a modified version of the Infectious Bursal Disease (IBD) vaccine, enhancing protection and safety for chickens.

· We are expanding our poultry division’s product basket by introducing feed supplements, aiming to enrich our offerings and strengthen our market position.

Petcare

· We anticipate reaping the benefits of our critical backend activities in the upcoming year.

· With an expected rise in the pet adoption, we are prepared to capture the market share and meet the evolving needs of pet owners.

· We will introduce new products in therapeutic, supplement and prescription pet food diet segments, distinguishing ourselves and our offerings in the market.

Net Profit of the company for Q4FY24

Biofuel industry, Company News, Finance, India

Company recorded FY 23 revenue at Rs. 35,280.378 million and PAT (Profit After Tax) at Rs. 2,398.182 million.

Pune based Praj Industries (Praj), announced its audited financial results for the quarter and full year ended March 31, 2023.

Performance Review for Q4 FY23 – Consolidated:

• Income from operations stood at Rs 10,039.845 million (Q4 FY22: Rs. 8309.643 million; Q3 FY23: Rs.9114.647 million)

• PBT is at Rs. 1,128.133 million (Q4 FY22: Rs. 780.636 million; Q3 FY23: Rs. 858.997 million)

• PAT is at Rs. 881.151 million (Q4 FY22: Rs. 576.507 million; Q3 FY23: Rs. 623.113 million)

• Order intake during the quarter Rs. 10,380 million

Performance Review for FY23 – Consolidated:

• Income from operations stood at Rs. 35,280.378 million (FY22: Rs. 23,432.744 million)

• PBT is at Rs. 3,187.249 million (FY22: Rs. 2,048.772 million)

• PAT is at Rs. 2,398.182 million (FY22: Rs. 1,502.420 million)

• The consolidated order backlog as on March 31, 2023 stood at Rs. 34,140 million (FY22 order backlog at

Rs. 28,780 million).

Commenting on the Company’s performance, Mr. Shishir Joshipura, CEO & MD, Praj Industries said, “We delivered a healthy and consistent performance throughout FY23 by leveraging our technology edge and strong delivery capabilities. Energy transition and climate action (ETCA) agenda has opened new opportunities for our engineering businesses. Expansion of mobility solutions beyond surface mobility which includes SAF are expanding horizons of opportunity for our business. We are confident of meeting expectations of all our stakeholders, as we move forward on our sustainable journey.”

Company recorded FY 23 revenue at Rs.

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

In FY 2022-23, the company registered Revenue from Operations of Rs 51,397 million, compared to Rs 47,344 million in the previous year.

Bayer CropScience Limited announced its results for the financial year (FY) and quarter ended March 31, 2023. In FY 2022-23, the Company registered Revenue from Operations of Rs 51,397 million, compared to Rs 47,344 million in the previous year, registering an overall revenue growth of 9 per cent. Profit Before Exceptional Items & Tax stood at Rs 8,863 million, compared to Rs 7,883 million in the previous year, representing an increase of 12 per cent. Profit Before Tax (After Exceptional Items) increased by 17 per cent from Rs 8,468 million to Rs 9,901 million.

In Q4 of FY 2022-23, the Company registered Revenue from Operations of Rs 9,825 million, compared to Rs 9,633 million in the corresponding quarter of the previous year, delivering a growth of 2 per cent. Profit Before Exceptional Items & Tax for the quarter stood at Rs1,921 million, compared to Rs 1,895 million in the corresponding quarter of the previous year.

Commenting on the quarterly results, Simon-Thorsten Wiebusch, Executive Director, Bayer CropScience Limited said, “Our sales growth in Q4 continued to be driven by strong crop protection sales and consistent performance by our corn seeds business while overcoming some supply constraints faced during the quarter. Although our channel inventory continues to remain at healthy levels, we are witnessing a normalization of Roundup™ prices and availability.”

Speaking on the FY results, Simon Britsch, Chief Financial Officer, Bayer CropScience Limited said, “The steady performance of our crop protection and corn seeds portfolio helped us deliver 9 per cent growth in Revenue from Operations for the financial year. Though headwinds in the form of inflationary pressures led to higher operating expenses, we continued to invest in key initiatives to drive long-term growth. During the year, the company had an exceptional income of Rs 1,038 million arising from the sale of its Environmental Science Business in Q3 of FY 2022-23.”

In FY 2022-23, the company registered Revenue

Agro chems – Chemicals, Company News, Finance, India

The company has posted net profit / (loss) of Rs. 72.129 crores for the period ended March 31, 2023, as against net profit / (loss) of Rs 90.483 crores for the period ended December 31, 2022.

Sumitomo Chemical India Limited has reported Consolidated financial results for the period ended March 31, 2023. The company has reported total income of Rs. 668.055 crores during the period ended March 31, 2023 as compared to Rs. 766.161 crores during the period ended December 31, 2022.

The company has posted net profit / (loss) of Rs. 72.129 crores for the period ended March 31, 2023 as against net profit / (loss) of Rs. 90.483 crores for the period ended December 31, 2022. The company has reported EPS of Rs. 1.45 for the period ended March 31, 2023 as compared to Rs. 1.81 for the period ended December 31, 2022.

Financial Results (Q4 FY2023) – YoY Comparison

The company has reported total income of Rs.668.055 crores during the period ended March 31, 2023 as compared to Rs.671.436 crores during the period ended March 31, 2022.

The company has posted net profit / (loss) of Rs.72.129 crores for the period ended March 31, 2023 as against net profit / (loss) of Rs.74.659 crores for the period ended March 31, 2022.

The company has reported EPS of Rs.1.45 for the period ended March 31, 2023 as compared to Rs.1.50 for the period ended March 31, 2022.

Financial Results (Year Ended FY2023) – YoY Comparison

The company has reported total income of Rs.3555.819 crores during the Financial Year ended March 31, 2023 as compared to Rs.3088.010 crores during the Financial Year ended March 31, 2022.

The company has posted net profit / (loss) of Rs.502.209 crores for the Financial Year ended March 31, 2023 as against net profit / (loss) of Rs.423.558 crores for the Financial Year ended March 31, 2022.

The company has reported EPS of Rs.10.06 for the Financial Year ended March 31, 2023 as compared to Rs.8.49 for the Financial Year ended March 31, 2022.

The company has posted net profit /

Company News, India

The company’s revenue increased by 14 per cent over the previous year.

Agrochemical major, Rallis India announced the financial results of fourth quarter of FY2023. Company has reported revenue of Rs 523 crore in Q4FY23, an increase of 3 per cent over Q4FY22 of Rs 508 crore. The company’s exports recorded a revenue of Rs 979 crore in FY23. The company’s revenue increased by 14 per cent over the previous year. The Crop Nutrition business grew by 22 per cent. Domestic crop care business grew by 12 per cent and exports by 25 per cent during the year.

According to the release by the company, Seed’s revenue at Rs 345 crore was impacted mainly due to segmental shifts in Paddy and due to a supply shortfall in Maize.

  • Q4FY23 summary
    • Revenues of Rs 523 crore for Q4FY23, an increase of 3 per cent over Q4FY22 of Rs 508 crore
    • Loss after tax (after exceptional items) was (Rs 69) crore for Q4FY23, as compared to loss after tax (after exceptional items) of (Rs 14) crore in Q4FY22.
  • FY23 summary
    • Revenues of Rs 2,967 crore for FY23, an increase of 14 per cent over FY22 of Rs 2,604 crore
    • Profit after tax (after exceptional items) was Rs 92 crore in FY23, as compared to FY22 profit after tax (after exceptional items) of Rs 164 crore

Sanjiv Lal, Managing Director, and CEO, of Rallis India, said, “We have recognised a provision for slow moving/non-moving inventory Rs 52.8 crore and impairment in intangible assets Rs 30.4 crore. Work is underway to stabilise the business and improve its unit economics. The positive response to Diggaz, a cotton brand for North India, is encouraging.”

For FY24, there are forecasts of the likely onset of El Nino effects and efforts are underway to mitigate its business impact.

On a longer-term basis, our capex plans, new product introduction plans and demand generation investments remain on course. Our focus on Technology & Digital Transformation projects in our operations will continue.

This year marks the 75th Anniversary of Rallis’ incorporation. We want to thank all our stakeholders for supporting us in this journey. We have themed the milestone as ‘Rooted in Values. Seeding Growth’ and as we continue Serving Farmers through Science.”

The company’s revenue increased by 14 per