Krishana Phoschem Limited, a unit of Ostwal Group of Industries, has announced Q2 FY21 PAT at Rs. 55.84 million, up by 106% as against Rs. 27.1 million in Q2 FY20. 

 

Revenue for Q2 FY21 stood at Rs. 509.34 million which grew by 19.4% as compared to Q2 FY20. The revenue from the chemical segment took hit by over 12% (YoY) owing to Covid-19 and revenue from the fertilizers segment was up by 32% (YoY) on account of high fertilizer demand. Basic EPS stood at Rs. 2.24 per share, (up by 106% as compared to Q2FY20).  

 

The company’s plan to install a mega DAP & NPK plant in Madhya Pradesh by 2022 remains intact.

 

The company recorded the highest ever fertilizer sales in Q2 FY21. The demand has been further supported by good Kharif projection by IMD and on time arrival of monsoon in core command areas.

 

The fertilizer production & dispatches remains largely unaffected as fertilizers have been categorized into essential commodities. The segment profit for the fertilizer segment expanded exponentially to Rs. 68.65 million versus Rs. 21.21 milion in Q2 FY20.

 

The chemical segment reported total revenue of Rs. 107.58 million as compared to Rs. 122.68 million in Q2 FY20, registering a decline of 12% on account of fall in demand owing to COVID 19 pandemic. The segment profit for the fertilizer segment expanded exponentially to Rs. 68.65 million versus Rs. 21.21 million in Q2 FY20.

 

Praveen Ostwal, MD, Krishana Phoschem Limited said, “We have delivered a strong performance with net profit of Rs. 8.47 crores for H1 FY21 as compared to Rs. 6.77 crores for H1 FY20, despite adverse global environment. Our quarterly revenues have also witnessed growth of 20.8% over the corresponding year quarter. With such a strong set of results, I am delighted to inform all our shareholders that our EPS for H1 FY21 has been increased by almost 25% to Rs. 3.40 per share in comparison to Rs. 2.72 per share in H1 FY20."

 

Our operating margin in the 2nd quarter remained at 23.14% as compared to 18.76% in the last financial year quarter. Steady product orders and healthy monsoon season bode well for the farmers and resulted in higher revenues, commented Ostwal.

  

Going forward, with expectation of a good Rabi season, gradually improving business dynamics and various strategic initiatives undertaken by us, we are confident of maintaining positive momentum in the coming months added Ostwal.