#MEGHMANIFINECHEM Q3 2022 Concall Update
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Operational Highlights
1. Revenue up by 91% to ₹422 Cr backed by increase in revenue of Chlor-Alkali and Derivatives by 104% and 59% respectively
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Operational Highlights
1. Revenue up by 91% to ₹422 Cr backed by increase in revenue of Chlor-Alkali and Derivatives by 104% and 59% respectively
2. Overall plant utilisation was marginally up at 79% compared to 78% previous year same period
EBITDA increased by 107% to ₹141 Cr and EBITDA margin was up by 260 bps to 33.5%, despite high inflationary pressure on raw materials
EBITDA increased by 107% to ₹141 Cr and EBITDA margin was up by 260 bps to 33.5%, despite high inflationary pressure on raw materials
3. Crisil upgraded credit rating from A+/Positive to AA-/Stable
4. Investments undertaken in past years resulted in healthy revenues despite input pressure
5. EBITDA margins of 28+/-2% are sustainable as the product portfolio diversifies
4. Investments undertaken in past years resulted in healthy revenues despite input pressure
5. EBITDA margins of 28+/-2% are sustainable as the product portfolio diversifies
6. Undertook 10 days plant shutdown for maintenance
7. Addition of new capacities of peers will take 2-3 years, besides due to huge demand the new capacities will be fully absorbed irrespective of manufacturer
7. Addition of new capacities of peers will take 2-3 years, besides due to huge demand the new capacities will be fully absorbed irrespective of manufacturer
8. Hike in coal prices were easily absorbed and passed on to customers
9. The prices of caustic soda went up due high usage in aluminium extraction and supply disruptions
9. The prices of caustic soda went up due high usage in aluminium extraction and supply disruptions
Sales realisation:
1. Sales realisation of CMS improved by 106% in Q3FY22 on YoY basis
2. CMS & Hydrogen Peroxide sales realisation is up by 106% & 25% respectively on YoY basis
3. Overall plant utilisation was marginally up at 79% compared to 78% previous year Q3FY21
1. Sales realisation of CMS improved by 106% in Q3FY22 on YoY basis
2. CMS & Hydrogen Peroxide sales realisation is up by 106% & 25% respectively on YoY basis
3. Overall plant utilisation was marginally up at 79% compared to 78% previous year Q3FY21
4. Caustic Soda ECU realisation is up by 145% YoY; Caustic Potash is up by 60% on a YoY basis
5. Expanding into Chlorotoluene & its value chain of forward integrated derivatives
5. Expanding into Chlorotoluene & its value chain of forward integrated derivatives
Capacity utilizations
1. Chlor-Alkali production volume increased 31% YoY due to capacity expansion and subsequently higher utilisation
2. Hydrogen Peroxide capacity utilisation at 76% w ith increase in production by 190% YoY
1. Chlor-Alkali production volume increased 31% YoY due to capacity expansion and subsequently higher utilisation
2. Hydrogen Peroxide capacity utilisation at 76% w ith increase in production by 190% YoY
Capex
1. Epichlorohydrin commissioning in Q1FY23 ( 90% completed)
2. CPVC Resin commissioning in Q2FY23 (80% completed)
3. Additional Caustic Capacity commissioning in Q2FY23 (80% completed)
4. New R&D facility to be established next year
1. Epichlorohydrin commissioning in Q1FY23 ( 90% completed)
2. CPVC Resin commissioning in Q2FY23 (80% completed)
3. Additional Caustic Capacity commissioning in Q2FY23 (80% completed)
4. New R&D facility to be established next year
5. Chloro toluene expansion to be considered after completion of existing capex, currently working on the designing stage.
6. Conventional process will be used to manufacture chlorotoluene
6. Conventional process will be used to manufacture chlorotoluene
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