Shree Pushkar Chemicals & Fertilizers Limited, a leading manufacturer of Dyes, Dye Intermediates, and Fertilisers with a product portfolio of more than 25 products, reports Q1 FY23 revenue at Rs. 168.8 crore, a growth of 42.4% on Y-o-Y basis whereas Profit After Tax (PAT) at Rs. 14.4 crore, a growth of 7.8% in Q1 FY23 on Y-o-Y basis.

The volume growth for the chemicals segment stood at 13% for Q1 FY23 vs Q1 FY22 and for the fertilisers segment it was down by 10% in Q1 FY23 vs Q1 FY22 due to seasonality impact.

The Capex plan of Dye Intermediates (DI) Unit V plant of approximately Rs. 119.5 crore has been completed up to 30th June, 2022 and is ready to start commercial production. The dry trial run has been successfully completed, we have received provisional approval from the explosive department via its letter dated 8th August, 2022 and the commercial production is likely to start shortly.

With respect to Sulphur Chemistry plant, the commercial production has already commenced, except the Thionyl chloride plant.

Commenting on the Results, Punit Makharia, CMD said, “Despite macro-economic challenges, supply chain disruptions and inflationary scenarios, we are pleased to deliver steady financial performance for Q1 FY23."

"Our focus has been to ensure sustained and consistent volume deliveries to customers. Amidst the global uncertainties which loomed in the previous few quarters, our chemical division has reported a volume growth of 13% in Q1 FY23 vs Q1 FY22. The volumes in fertiliser division saw some dip due to seasonality impact however it has witnessed higher realisation which can be attributed to the increase in the subsidy offered by the government. This has been a welcome move for the fertilisers segment as it was the need of the hour, and we are sincerely grateful to the central government to address the issue. Despite the ongoing global challenges, the company is optimistic about overall growth and demand in the quarters to come with improved capacity utilisation and higher efficiencies,” added Makharia.