Meghmani Organics Ltd. (MOL) has posted net loss of Rs. 16.75 crores for the period ended June 30, 2024 as against net loss of Rs. 17.96 crores for the period ended March 31, 2024. The company posted net loss of Rs. 34.49 crores for the period ended June 30, 2023.

MOL has reported total income of Rs. 422.76 crores during the quarter ended June 30, 2024 as compared to Rs. 418.97 crores during the period ended March 31, 2024. The company s reported total income of Rs.432.78 crores during the period ended June 30, 2023.

Commenting on Q1 FY25 performance, Ankit Patel, Chairman & Managing Director said, “For the quarter under review, we witnessed health volume growth in both the segments implying a gradual recovery in demand. However, this was offset by lower product price realizations across markets impacting our profitability.

“In our Crop Nutrition segment, we are pleased to share that we have successfully launched 8 new products in the fertilizers, biofertilizer and biostimulant category, providing a comprehensive, one-stop solution for our farmers to improve the productivity and nutrient use efficiency.

“Moving ahead in FY25, we are optimistic that in the coming quarters with the momentum in the demand recovery followed by improved pricing will enhance our profitability.”

MOL is amongst the top three global Phthalocyanine based pigment players enjoying an 8% market share and amongst the top-10 manufacturers of pesticides in India with a presence across the entire value chain.

MOL has 36+ brands of various pesticides formulations in India and has over 400+ customer base across diverse industries. MOL has a global presence in 75+ countries and a wide distribution network of 3,500+ distributors and dealers across India. The company garners ~80% of its topline from the export markets as on FY24.