Revenue from operations displayed a phenomenal growth of 41% YOY from 937 crores to 1317 crores & also a growth of 9% QOQ driven by strong demand across various products
Expenses also displayed a growth of 33% and stood at 1003 crores from 755 crores YOY & also a growth of 6% QOQ. Cost of Raw Materials shot up by 55% YOY. Finance Cost shot up by 52% YOY due to unhedged external commercial borrowings arising due to steep depreciation of INR and other expenses shot up by 34%
EBITDA displayed an exceptional growth of 314 crores from 182 crores, a growth of 73% YOY, and a growth of 21% QOQ
PAT also displayed an upsurge of 101% YOY and stood at 165 crores from 82 crores, and also a growth of 21% QOQ
PAT margin also followed the surge path growing by 4% YOY & 2% QOQ and stood at 13%
Debt to equity for the company stood at 0.8 while Net Debt/EBITDA stood at 2.1
Business Highlights
Export Revenue upsurged by 29% YOY and stood at 634 crores. Export Revenue contributes to 48% of total revenue
Growth supported by higher capacity utilization and better product mix; improving throughput from recently‐commissioned facilities provide further visibility for the rest of current FY
70% contribution from value‐added products during Q1 FY 2022
Capex of Rs 295 crore during Q1, expected spending of about Rs 1500 crore during FY 22
Overall Revenue has grown at a CAGR of around 10%. Specialty Chemicals segment has grown by a CAGR of 10%. Pharmaceutical segment has grown at a CAGR of around 13%
Specialty Segment: Contribution to Revenue is 96% & contribution to EBIT is 84%. 50% growth in this segment revenue YOY with 82% growth in EBIT. Revenue & EBIT stand at 1263 crores & 237 crores respectively. Higher Growth due to increase in revenue & also due to higher input costs & logistics cost. Return of demand from established markets also contributed to margins. Includes income recognition of ~US$ 0.45 crores towards the shortfall fees in respect of the first long‐term contract
Pharmaceutical segment: Contribution to revenue 4% & contribution to EBIT also stood at 17%. Pharma revenue grew by 24% YOY & stood at 240 crores. EBIT also grew by 7% YOY and stood at 48 crores. Margin are lower due to higher inventory of final product, which could not be shipped due to logistics issue. Business visibility in Pharma is based on higher volume from regulated markets, value‐added products and new introduction of intermediate Additional capacities for API’s and intermediates expected to be operational in in 2nd Half of FY2022
Other Highlights
Higher crude prices led to an improvement in benzene prices. Hence, it is able to hike prices for different business portfolios
The company has operated at around 80% utilization levels
Pharma margins for the quarter were impacted owing to higher inventory of final product, which could not be shipped due to logistics issue
Additional capacities for APIs and intermediates are expected to be operational in H2FY22
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