1. Revenues stood at ₹475 Cr in Q3FY22 compared to ₹366 Cr in Q3FY21, growth of 29.4% YoY
2. EBITDA stood at 109.3 Cr translating 23% EBITDA margins
3. Sales volumes were down by 13.77% from 31,993 MT in Q3FY21 to 27,589 MT in Q3FY22. As few of the clients couldn’t procure Key Starting Materials (KSMs) to match the products.
4. Despite sluggish demand for few of the products and shut down of acetonitrile and DMF plants for debottlenecking which were completed in the month of November 2021, the revenues showed a decent growth of 44% which stood at ₹556 Cr in Q3FY22
5. Volume contribution
Amines- 6,460 MT
Amines Derivatives- 9,912 MT
Specialty Chemicals-11,217 MT
Capacity utilisation stood at 52% in 9MFY22
6. Procurement of raw material are key challenge for FY23
7. DMC is used in the production of Polycarbonate and Lithium Batteries – the consumption of which will exponentially grow in India backed by government incentives
8. Pharmaceutical application segment and agrochemicals are expected to drive significant demand for Methylamines and related value-added products
Unavailability of key raw materials resulted in contraction of production. However, from the month of January the supply bottlenecks have eased, and expect to operate the subsidiary plant
at 70-80% capacity and achieve annual turnover of about ₹475 - ₹500 crore in the next fiscal year
Capex
Acetonitrile
1. Ramp up in production from 9 tons per day to 13 tons per day due to debottlenecking.
2. Plan to undertake further capex for additional Acetonitrile plant having capacity of 50 TPD and plant is likely to commence operations by FY24.
Di-Methyl Carbonate
1. The project is on track and expect to commence during Q1FY23
2. Confident on achieving capacity utilisation of 60-70% first year of
Operations
Methylamines
Plan to set up a separate plant for Methylamines with capacity of
40,000 to 50,000 TPA under Phase-2 expansion of Greenfield Project
The environmental clearance is already received.
Dimethyl Formamide
Plan to set up a separate plant for DMF with a capacity of 30,000 TPA under phase-2 expansion of Greenfield Project
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1. The company’s performance for the quarter was affected by headwinds in the pharmaceutical business.
But was partly mitigated due to robust performance in the Contract Research and Development Services (CRDS) segment.
2. While the Radiopharma business showed improved performance, Generics business was affected by lower volumes due to Import Alert at Roorkee plant, latest sartan impurities issue and pricing pressure in the US generics market.
1. They have had a very strong quarter - especially in CRAMS where the pipeline continues to be very strong.
2. They are seeing good interest and strong growth in the Vitamin D analogues.
3. The cholesterol business is stable and the disinfectant business is seeing increased interest from customers.
4. They have seen a rapid rise in transportation and logistics costs. There are also price rises in Central Europe for basic utilities like electricity, gas and water.
1. Net revenues for the quarter were ₹348.6 Cr (4.6% growth YoY). EBITDA for the quarter stood at ₹73.4 Cr and EBITDA margin for the quarter was 21.1%.PAT for the quarter was ₹33 Cr and PAT margins were 9.5%.
2. Revenues from domestic formulation business for the quarter was ₹181.5 Cr (15.2% growth YoY). Major therapeutic segments viz. anti-infectives, gastrointestinal, urological and respiratory performed well.
1. Despite the challenging business environment, Meghmani Organics Ltd. (MOL) revenue grew by 43.7% YoY to ₹ 640 Cr in Q3 FY22 aided by higher realisation from Pigments
along with improvement in volume & higher realisation from Agrochemicals business.
2. As an industry wide phenomenon, MOL too faced the challenge in respect to hardening of raw material prices.
Due to the sudden and sharp rise of raw material prices, MOL faced a challenge in terms of fully passing on to consumers.
3. EBITDA stood at ₹77.4 Cr with 12.1% EBITDA margins from 20.2% YoY