Heranba Industries Ltd., one of India’s leading agrochemical company has announced its financial results for fourth quarter and year ended March 31st, 2024.

The company has registered 8.32 per cent drop in its net profit at Rs. 13.11 crore during Q4 FY24 as compared to Rs. 14.3 crore during the corresponding period last fiscal. During Q4 FY24, the revenue stands at Rs 261.29 crore as compared to Rs. 258.90 crore in Q4 FY23.

For the Financial Year ended March 31, 2024, Heranba Industries Profit After Tax stood at Rs. 66.35 crores as compared to Rs. 110.10 crores in FY23, registering a drop of 39.73 per cent. Revenue from Operations stood at Rs. 1,274.75 crores in FY24 as compared to Rs. 1,324.40 crores in FY23, reflecting a drop of 3.8 percent. EBITDA stood at Rs. 126.99 crores during the year with EBITDA margin at 9.96% in FY24.

Raghuram K. Shetty, Managing Director of Heranba Industries Limited, commented, “The Company’s FY24 revenues stood at ₹1,274.75 Crores restricted by unfavourable global economic scenario, inventory build-up in the system and sluggish demand from key export regions. However, we have witnessed decent traction for our formulation products in both domestic and export markets. The EBITDA margins remained muted during FY24 due to lower price realization in export markets and falling prices in finished goods. Despite of a challenging year, Heranba’s Balance Sheet continues to remain strong.

“We are dedicated to accelerating revenue growth and productivity efforts in order to achieve significant margin expansion and we continue to view FY25 as a crucial acceleration point in Heranba’s Trajectory.

“The Company continues to strengthen its product portfolio with new product registrations in both domestic & export markets and leverage its distribution network for delivering growth in the coming years.”