Chemical
NACL posts solid growth; announces new agrochem plant in Gujarat
Company's Q2 revenues grew 14% YoY and stood at Rs. 344.17 crore
- By ICN Bureau
| November 09, 2020
NACL Industries' revenue from operations for the quarter ended 30th September, 2020 stood at Rs.344.17 crore registering a growth of 14%.
The Earnings before Interest, Depreciation and Tax (EBIDT) and Profit After Tax (PAT) for the second quarter stood at Rs. 42.59 crore and Rs. 18.69 crore respectively compared to Rs. 23.83 crore and Rs. 6.44 crore in the corresponding periods of the previous year.
Revenue from operations for the half-year ended 30th September, 2020 is Rs. 596.19 crore, registering a growth of 21%, EBIDT and PAT for the half-year ended 30th September 2020 stood at Rs. 63.97 crore and Rs. 24.05 crore respectively compared to Rs. 37.71 crore and Rs. 7.68 crore in the corresponding periods of the previous year.
Retail business added two new products, Eraze Plus (Herbicide) and Fenny (Insecticide) in Q2 expanding the company's offerings in the rice and oil seed crop segments. Though the copious rains in August affected consumption, the company has grown by 9% in H1.
In the first half year, exports business witnessed a growth of more than 50% when compared to the same period of the corresponding year. The performance for Q2 was more than 40% of that of last year. With orders in hand and a positive forecast, the outlook for the rest of the financial year looks positive.
Srikakulam reported record production in Q2 and received the Appreciation Award for the year 2019 from NSIC for safety practices. Expansion projects to increase our technical manufacturing capacities are on stream. The Ethakota unit continued with safe operations to meet customer requirements. The production volumes in Q2 increased in line with growing demand.
Recently, NACL Industries wholly owned subsidiary namely NACL Spec-Chem Limited (NSCL) acquired 19 acres industrial land in Gujarat Industrial Development Corporation, Dahej, Gujarat, India for setting up a green field project for manufacturing of agrochemical active ingredients and formulations.
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