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Shree Pushkar Chemicals & Fertilisers Ltd Announces the Q1 FY19 results

Shree_Pushkar_ChemicalsMumbai: Shree Pushkar Chemicals and Fertilisers Ltd. (BSE:539334; NSE: SHREEPUSHK) declared its Q1 results for the FY19. The company reported a consolidated revenue growth of 24.9% for the quarter ended June 2018, against the same period last year 2017. The consolidated EBIDTA margin expanded by 20 basis points translating to a 26.4% growth in EBIDTA, YoY. The consolidated PAT grew by 30.4% and stands at Rs. 9.1 crores at a PAT margin of 9.4%. The PAT margin also registered a growth of 40 basis points.

 

 

 

Consolidated Q1FY19 results:

Particulars (Rs. In crores) Q1 FY19 Q1FY18* Y-o-Y
Revenue from Operations (Net of Excise) 97.5 78.0 24.9%
EBITDA 16.8 13.3 26.4%
EBITDA Margin 17.3% 17.1%  20 bps
PAT 9.1 7.0 30.4%
PAT Margin % 9.4% 9.0%  40 bps

*Standalone numbers. Kisan Phosphate Ltd. (now a wholly owned subsidiary) was acquired on October 12, 2017, hence not included in Q1FY18 numbers.

On the back of an initiated capacity expansion in FY19, the company expects an additional output, translating to an increased growth in revenue. The company anticipates prices to remain stable at the current levels, for the remaining part of FY19.

The company has planned to undertake an additional capex in the range of Rs. 75 crores in the dyes and dye intermediaries’ segments. This capacity expansion is expected to roll out into production in FY20.

Post the acquisition of Kisan Phosphate Ltd. in October 2017, the company has been able to successfully reorganise the operations and bring a considerable reduction in outstanding liabilities, resulting in cost optimisation, thereby strengthening the balance sheet significantly. There is a planned capex of approximately Rs. 10 crores to enhance production capabilities.

Commenting on the result, Mr. Punit Makharia, CMD, said, “continuing on our path of advanced zero-waste management and engineering methodologies, we have been able to build a unique and robust business model that is integrated and sustainable. This enables us to embark on a robust growth path backed by consistent demand.”

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