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Highest Ever Profitability Backed by Strong Operating Efficiency
HYDERABAD, India, Nov. 1, 2022 /PRNewswire/ — Vishnu Chemicals Limited (BSE: 516072) (NSE: VISHNU), epitomises manufacturing of high-performance specialty chemical compounds, has reported its unaudited monetary outcomes for the quarter and half yr ended 30th September 2022.
|
CONSOLIDATED FINANCIAL HIGHLIGHTS |
|||||||||
|
In Rs Cr |
Q2FY23 |
Q2FY22 |
Y-o-Y |
Q1FY22 |
Q-o-Q |
H1FY23 |
H1FY22 |
Y-o-Y |
FY22 |
|
Total Income |
375 |
242 |
55 % |
361 |
4 % |
736 |
440 |
67 % |
1,075 |
|
EBITDA |
63 |
35 |
82 % |
61 |
3 % |
123 |
62 |
98 % |
161 |
|
EBITDA Margin |
16.7 % |
14.2 % |
245 bps |
16.7 % |
(4) bps |
16.7 % |
14.1 % |
258 bps |
15.0 % |
|
PAT |
35 |
17 |
111 % |
34 |
3 % |
69 |
28 |
145 % |
81 |
|
PAT Margin |
9.3 % |
6.8 % |
250 bps |
9.4 % |
(5) bps |
9.4 % |
6.4 % |
298 bps |
7.5 % |
|
EPS in Rs. |
29 |
14 |
111 % |
29 |
3 % |
58 |
24 |
145 % |
68 |
Consolidated Highlights
- Vishnu Chemicals continues to report document quarterly Sales, EBITDA & PAT.
- Consolidated home and exports gross sales continued its progress development, rising by 57% and 53% YoY.
- Expansion of +245 bps in EBITDA margin YoY and +250 bps in PAT margin YoY in Q2FY23.
- Unwavering give attention to manufacturing had led the corporate to be a worldwide chief by way of gross asset turnover and ROCE amidst friends. Gross asset turnover & ROCE reached highest ranges of 2x & 35%+ respectively.
- Debt to Equity lowered to 1.0 from 1.3 in FY22.
- The firm continues to enhance its working capital effectivity leading to discount in Inventory & Debtor days.
- Board approves 1:5 inventory break up.
- Highlights of Chromium Chemistry:
- Standalone home and exports gross sales proceed its progress development, rising by 64% and 62% YoY.
- Debottlenecking has led to capability enhance by 10,000 TPA, a rise of ~14% on our present plate capability. Production began from Q2FY23.
- EBITDA generated has elevated by 126% YoY and 10% QoQ.
- Reduced D/E to 0.99 whereas Interest Coverage Ratio expands to 7x.
- Standalone ROCE is at 40%+.
- Highlights of Barium Chemistry:
- Realistically, there are some indicators of softer demand particularly in Europe, partly because of the on-going geopolitical points and the influence of upper enter prices on our buyer’s operations. However on the constructive aspect, as per latest knowledge, the power points appear to be subsiding in Europe with falling costs of pure fuel. The firm is watchful of the scenario.
- The firm is targeted on balancing its gross sales combine geographically by growing its market share in India which might mitigate geography danger in the long run.
- Capex: Brownfield enlargement to introduce a brand new speciality chemical to help Barium portfolio diversification is on observe and is predicted to be commissioned by H1FY24.
- In commissioning stage: Solar energy capability underneath the OPEX mannequin is on observe and is predicted to be accomplished in H2FY23.
Management Comments
“The second quarter was another record performance for Vishnu Chemicals, as the Company demonstrated resilience amidst macro environment due to its diversified product and application mix. Stepping back, in the second quarter, we continued to demonstrate our ability to make progress on our clear operational priorities. With our targeted investments, we will continue to drive long-term growth above market growth rates by providing value to our customers around the world,” stated Mr. Ch. Krishna Murthy, CMD, Vishnu Chemicals Limited.
Mr. Ch. Siddartha, JMD, Vishnu Chemicals Limited, added, “I am pleased with our execution in the second quarter, as we focused on productivity for our customers in their tough time, which has never been more important than it is today. But there is still significant amount of work to be done. The momentum we have is clearly evident with our ROCE levels and working capital efficiencies making us the most efficient producer in our chemistries globally, which we will continue to monitor and improve. We have industry-leading expertise, a global footprint, and clear priorities with plenty of runway for growth.”
About Vishnu Chemicals Limited
Vishnu Chemicals Limited epitomises manufacturing of high-performance speciality chemical compounds, with sturdy market management and an clever symphony of ahead and backward integration to provide world-class merchandise which might be centered on various wants and aspirations of its clients throughout 60+ international locations.
