Madhya Bharat Agro Products Limited (MBAPL), a unit of Ostwal Group of Industries continues its growth trajectory with another quarter of strong performance.

In the first half year of FY21 itself, the company has been able to achieve a PAT of Rs. 14.13 crore, while in the last FY 2019-20, the total annual PAT of the company was Rs. 14.87 crore, which depicts the strong growth story of MBAPL.

The overall revenue from operations of the company stood at Rs. 104.32 crore in H1 FY21 versus Rs. 67.61 crore in the corresponding half year of last year. The EBITDA for H1 FY21 grew by over 60% to Rs. 26.38 crore versus Rs. 16.38 crore in H1 FY 20. The PAT Margin for H1 FY21 was at 13.54%, higher by 105 basis points as compared to H1 FY20.

Fertilizer segment delivered another quarter of strong performance backed by improved volumes, good demand for the company's differentiated products led by favourable monsoon. In H1 FY21, revenue from the fertilizer segment increased by 51.4% to Rs. 100.06 crore vs. Rs. 66.09 crore in H1 FY20. In H1 FY 21, the segment profit for fertilizer segment expanded exponentially to Rs. 20.88 crore verus Rs. 10.75 crore in H1 FY20.

The chemical segment reported total revenue of Rs. 4.24 crore as compared to Rs. 1.51 crore in H1 FY20, registering a growth of 180%.

Incorporated in 1997, MBAPL is a part of Ostwal Group, which has had its presence in the fertilizer sector since 1994. Ostwal Group stands at 4th position in terms of manufacturing and sales of SSP Fertilizer in India and accounts for around 8% of total SSP market share in India.

Pankaj Ostwal, Managing Director, Madhya Bharat Agro Products Limited said, “We are delighted to announce a strong financial performance in terms of revenue & profitability during the first half year of FY 2020-21, despite the difficult operating environment caused by Covid-19 pandemic and subsequent lockdowns."

"It gives me immense satisfaction to say that our company continues to progress well both on financial and operational fronts. Our quarterly revenues witnessed growth of 32% over the corresponding year quarter. With such a strong set of results, our EPS for H1 FY21 has been increased by over 60% to Rs. 6.45 per share in comparison to Rs. 4.02 per share in H1 FY20," commented Ostwal.

"We had a strong quarter with broad based revenue growth and an improvement in operating margin performance, in line with what we had guided. Our PAT margin in the 2nd quarter remained at 14.96% as compared to 12.69% in the last financial year quarter," added Ostwal.