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Meghmani agchem sales up 12% in Q1 FY 2016
Aug. 17, 2015
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IndiaIndian company Meghmani’s agchem sales rose by 12.4% to Rs 1,088.1 million in the first quarter of fiscal 2016, ended on June 30, 2015.
Domestic sales of Agrochemical Division increased by 14.9% due to increase quantities sales of MPB, CMAC and Permethrin. Export sales of Agrochemical Division increased by 11.5% on account of increase in quantity sales of 2,4-Dichlorophenoxy, CPP and Cypermethrin.
The amount of gross profit of Agrochemical Division increased by 67.4% and GP margin increased from 15.6% in Q1 FY 2015 to 23.2% in Q1 FY 2016 due to higher quantity sales and price realization of 2,4-Dichlorophenoxy, Peremethrin and Cypermethrin.
Outlook
The volatility in foreign exchange market and the increase in raw material prices may impact on finished goods prices, as a result, the profitability is likely to be affected in Q2 FY 2016. The global markets for agrochemicals products are under pressure.The Group and Company revenue for Q1 FY 2016 has increased due to higher production resulted in higher sales. The company expects to see the improvements in revenue from Agro–III Plant. The monsoon season might have impact on the sales and profitability of Agrochemicals in Q2 FY 2016.
Source: Meghmani Organics
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