India Pesticides Q3 2022 Concall Highlights

Operational Highlights

  • Revenues stood at ₹191.4 Cr in Q3FY22 from ₹183 Cr in Q3FY21 translating a growth of 4.6%
  • EBITDA stood at ₹62.6 Cr with EBITDA margins at 31.5%
  • PAT stood at ₹43.4 Cr with PAT margins at 22.6%
  • 9MFY22 revenue split stood- Technicals + API: 72%, Formulations: 28%
  • Profitability growth momentum continued backed by efficient business operations and unique product offerings.
  • During the quarter, launched one product which received overwhelming response
  • Presently have five upcoming products in pipeline and about to be launched by Q2FY 22-23
  • Customers absorbed the incremental cost of high input prices
  • Adama is major international competitor in fungicides
  • 40-45% revenues from 3 key products i.e Captan, Folpet and Thiocarbamate
  • Herbicides and Fungicides are distinctly separated to avoid any contamination
  • Only in B2B business for export 
  • Already started technical registration process to get along parallel with EC.
  • Will start manufacturing intermediates first and then as registration approves, it will be manufactured simultaneously

Capex

    • Further increased our Sandila plant capacity by 500MT for new herbicide
    • Progress of the ongoing expansion projects is as per timelines
    • In process of environmental application for unit 3, TOR is expected in a month
    • 2-3 quarters are required for capacity ramp up

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