NACL Multichem was granted Environmental Clearance for its proposed manufacturing facility with a production capacity of 264.615 TPD
NACL Industries Ltd. has reported total income for the quarter ended March 31, 2023 at Rs. 600.07 crore, registering a YoY growth of 27%. EBITDA and PAT for the quarter stood at Rs. 73.06 crore and Rs. 41.65 crore respectively compared to Rs. 42.77 crore and Rs. 21 .02 crore in the corresponding period of the previous year.
Total income for the year ended March 31, 2023, stood at Rs. 2,128.55 crore, registering a YoY growth of 30%. EBITDA and PAT for the year ended stood at Rs. 207.77 crore and Rs. 102.79 crore respectively compared to Rs. 157.25 Cr and Rs. 76.04 Cr in the corresponding period of the previous year.
According to the release, exports contributed 36% of the total revenues during the fourth quarter of FY 2023. For the year ended March 31, 2023, there was an increase of 41% over the last year. Price pressures and inventory build-up across various segments, suggest a challenging outlook for FY'24.
The domestic retail business performed exceptionally well and achieved a growth of 48% in Q4 & 27% over the last year. While unseasonal rains in Kharif and high inventory in the market created headwinds, this was mitigated by good monsoons and an increase in acreage in the Rabi season. With normal monsoons being predicted for the upcoming Kharif season, the outlook for Q1 FY'24 remains positive, with several new product launches planned.
The flagship technical plant in Srikakulam (AP) has achieved its highest monthly production in March 23 reaching 1002 MT, while setting new benchmarks in safety, with innovative new initiatives like the "Suraksha Samelan". It also recently received the "Best Safety Performer" award from CII. Similarly, the formulation plant in Ethakota (AP) also set several new records for highest ever daily and monthly production.
The Company's raw material supply remains stable, despite the disruption of supplies form China. Prices of intermediates from China have been falling in Q4 FY'23, with the trend expected to continue for Q1 FY'24.
R&D team is working on improving process for the synthesis of emerging Als and new agrochemical combination (formulations) for overseas and Indian Customers.
Meanwhile, NACL Multichem Private Limited (a wholly owned subsidiary of the company) was granted Environmental Clearance for its proposed establishment of a manufacturing facility at Ranastalam Mandal, Srikakulam District, Andhra Pradesh, for the manufacturing of various Agrochemicals, Synthetic Organic chemicals and Fluorine based chemicals with a production capacity of 264.615 TPD and a Co-Generation Power Plant (6MW).
The Greenfield site at Dahej has successfully commenced its commercial production, with two production line working at full designed capacity. The other three production line are expected to ramp up to full capacity by Q3 FY'24.
Commenting on the developments, Pavan Kumar, MD & CEO, said: “We are delighted to share the heartening results achieved by NACL in 04 2023, culminating in a landmark year for the Company, having crossed significant milestones in both revenue and profitability, as it continues on its growth trajectory.
“This achievement is the fruit of substantial investments that we have made in our manufacturing capabilities & new products, as well as the dedication of our teams. Despite significant challenges such as geopolitical disruptions, unpredictable weather patterns and input supply challenges, NACL remained resolute in its pursuit of outcomes.
“As we continue to chart the way forward for the Company, we are pursuing several promising growth opportunities, and are poised to cross many such milestones on our growth journey. As always, our focus on customer centricity, productivity and sustainability continues to be our North Star, as we strive to keep moving from good to great.”
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