By: ICN Bureau
Last updated : October 28, 2024 9:53 am
Crop Protection constitutes around 75% of the overall company’s revenue in Q2 FY25. The segment reported revenue of Rs. 397.7 crore, up by 50% YoY and EBITDA of Rs. 43.2 crore, up by 75% YoY
Meghmani Organics Limited (MOL), a fully integrated diversified chemical company, Q2 FY25 revenue from operations stood at Rs. 532.6 crore for the quarter under review, growing by 42% YoY and 30% QoQ respectively on the back of healthy volume growth witnessed in both the segments.
EBITDA for the quarter grew to Rs. 41.2 crore, increasing by 179% YoY and 190% on QoQ basis.
Crop Protection constitutes around 75% of the overall company’s revenue in Q2 FY25. The segment reported revenue of Rs. 397.7 crore, up by 50% YoY and EBITDA of Rs. 43.2 crore, up by 75% YoY.
Pigments constituted around 25% of the overall company’s revenue in Q2 FY25. The segment reported revenue of Rs. 134.9 crore, up by 23% YoY and EBITDA of Rs. 4.2 crore, up by 268% YoY.
For the half year ended 30 September 2024 (H1 FY25), revenue from operations stood at Rs. 943.7 crore as compared to Rs. 795.5 crore in the corresponding previous year, up by 19% YoY. EBITDA grew to Rs. 55.4 crore in H1 FY25 against Rs. (0.3) crore in the corresponding previous year.
Commenting on Q2 FY25 performance, Ankit Patel, Chairman & Managing Director said, “We have achieved positive growth momentum this quarter, with revenue and EBITDA growing by 42% and 179% on YoY basis. This was on the back of healthy volume growth reported in both the segments implying a gradual recovery in overall demand. However, price realization has remained flattish across markets and we anticipate that with the current momentum in the demand recovery pricing should also improve going forward. In our Crop Nutrition segment, we are witnessing gradual traction on the ground level which was a result of our extensive field activities with farmers showcasing the efficacy of Meghmani Nano Urea on different crops. In Titanium Dioxide (TiO2), we have achieved significant improvement in quality resulting in improved price realization and with the interim anti dumping duty on TiO2 from China expected in Q3 FY25 there would be further improvement in price realization.”