Shree Pushkar Chemicals & Fertilisers announces consolidated 9MFY19 results

www.newsbarons.com

The consolidated PAT for 9M FY19 stood at Rs. 33.2 Crores as against Rs. 27.2 Crores, growth of 22.2%. The margins for 9M FY19 stood at 9.9%.

Consolidated Q3FY19 & 9M FY19 results:

www.newsbarons.com* EBITDA excludes arrears in remuneration to Promoters of Rs. 5.03 Crores in Q3FY19. The same had been approved by the shareholders in the AGM held in September 2018.

• The company had initiated capacity expansion of Dyes, which has come on-streamat the start of 2018.On the back of this additional capacity, the company has deliveredadditional volume, translating into growth in revenues
• The utilisation of Dyes unit has improved from 55% in H1FY19 to 61% in 9M FY19. We expect this utilisation to further increase in coming quarters as we see our brand Dyecol getting a good response from our customers globally
• The exports for 9MFY19 stood at Rs. 73 Crores as against Rs. 22 Crores in FY18
• The company has planned an additional capex of ~Rs. 75 crores in the dye intermediaries’ segment, which is expected to come on stream by the end of FY20
• The company anticipates product prices to remain stable at the current levels for the remaining part of FY19
• As a result of reorganisation done in Kisan Phosphates, post its acquisition, the Revenue for 9MFY19 stood at Rs.36.3 Crores with EBITDA margins of 17.4% and PAT margins of 9.2%. Further the company is already in the process ofadding a sulphuric acid plant along with a captive power plant for enhancing its manufacturing capabilities, involving a capex of approximately Rs. 10 crores thereby bringing about considerable reduction in the cost of production.The capex is expected to complete by end of Q4FY19.

Commenting on the result, Punit Makharia, CMD, said,“I am extremely pleased with our results and our consistency in performance on quarterly basis is the testimony of the strength of our business model. Being a completely integrated specialty chemicals manufacturer, we are insulated from the volatility of the markets and are therefore being able to deliver a sustainable growth on consistent basis.

The industry is poised with immense opportunities for growth. We are an environmentally compliant and a responsible manufacturer and are bound to benefit from the opportunities that market presents. We believe our manufacturing and marketing strengths will help us to continue on our laid growth path in coming quarters.”

Key Consolidated Highlights:

• The company reported a consolidated revenue of Rs. 334.3Crores for 9M FY19 as against Rs. 275.2 Crores in 9M FY18, growth of 21.5%

• The consolidated Adjusted EBITDA for 9M FY19 stood at Rs. 61.5 Crores as against Rs. 48.7 Crores in 9M FY18, growth of 26.3%. The EBITDA has been adjusted for arrears in remuneration to Promoters of Rs. 5.50 Crores in Q3FY19. The same had been approved by the shareholders in the AGM held in September 2018.The adjusted marginsfor 9M FY19 stood at 18.4%

• The consolidated PAT for 9M FY19 stood at Rs. 33.2 Crores as against Rs. 27.2 Crores, growth of 22.2%. The margins for 9M FY19 stood at 9.9%