Bodal Chemicals has posted a decline 27.40% to its net profit at Rs. 2.04 crore in the quarter ended March 2024 as against Rs 2.81 crore during quarter ended March 2023. Revenue from operations rose 1.03% to Rs 393.59 crore in the quarter ended March 2024 as against Rs 389.58 crore during the previous quarter ended March 2023.

For the full year, net profit declined 82.99% to Rs 6.47 crore in the year ended March 2024 as against Rs 38.03 crore during the previous year ended March 2023. Sales declined 11.41% to Rs 1394.62 crore in the year ended March 2024 as against Rs 1574.28 crore during the previous year ended March 2023.

Bodal Chemical’s Q4 FY24 revenue as well as margin remain almost constant on YoY basis. The company achieved Rs. 399 crore of total revenue during Q4 FY24, reflecting 16 per cent increase on QoQ basis. Average revenue from first three quarter was Rs. 340.1 crore. So, Q4 FY24 represent 17 per cent improvement over average of first three quarter. This gives clear sign of recovery for the company and the management expects to sustain the recovery. Total revenue for the FY24 stood at Rs.1419.4 crore, a de-growth of 11% on a YoY basis.

Sale Revenue from Dye Intermediates during FY24 was Rs.452.4 crore, 15% improvement on YOY basis. Revenue from Dyestuffs during FY24 was 470.5 crore, 13% de-growth on YOY basis. Revenue from Basic Chemicals during FY24 was Rs.121.4 crore, de-growth of 30%.

Chlor Alkali business has reported de-growth in revenue as well as steep decline in margin due to adverse market condition of Caustic-Chlorine industry. In FY24, post up-gradation capex, despite of growth in volume by 17%, due to a substantial price reduction, Chlor Alkali revenue stood at 268.5 crore, a de growth of 18% on YoY basis.

Sener Boya, our Turkish company, is located at Turkey. And Turkey as a country is experiencing hyperinflation. During the quarter Q4FY24, on implementation of AS 29 there is Rs. 16crore loss and the same is already a part of the declared result. Chinese and Indonesian subsidiary have performed satisfactory.

Prices of most of the RM are now under control and stable. This is helping the company in improving the turnover by catering better demand.

The company’s Management is taking measures in terms of scale, costs and integration that will help to sail through in this tough time. “Our Saykha Greenfield Project has commenced its commercial operation of Benzene Downstream products on 29th December 2023 by starting production of MCB. Company has started production of other products i.e. PNCB and ONCB on 16th March, 2024. These being specialty products will require about a quarter to stabilize,” the company said in its presentation.