Punjab Chemicals Q4 FY21 revenue jumps 96%

Punjab Chemicals & Crop Protection Ltd., a CRAMS focused agrochemicals company, has announced Q4 FY21 revenue stood at Rs. 209.6 crores, a growth of 96.3% YoY growth. 

The PAT has increased from Rs. 10.8 crores in FY20 to Rs. 49.1 crores in FY21 and PAT margin expanded from 2% to 7.2% YoY. The company has declared a dividend of Rs. 2 per share, subject to approval at AGM. 

Despite increase in the raw material prices during the quarter, increased contribution of high margin products and rationalisation of overheads helped the company to report an increased EBITDA of Rs. 97.3 crores for FY21, up by 75% YoY with an EBITDA margin of 14.3%. 

Shalil Shroff, Managing Director, Punjab Chemicals & Crop Protection Limited said, “The performance during Q4 FY21 and for FY21 as a whole has yet again underpinned by the robust performance of the CRAMS segment. Our various cost rationalisation initiatives coupled with deleveraging our balance sheet to reduce debt have helped us to boost the EBITDA margins. This has helped us to get back to the pre-covid level of revenue and EBITDA. 

"At present we have a robust order book from our international clients. This ensures us revenue visibility for the near term. Further looking ahead, we are optimistic about the long-term growth trajectory of the agrochemicals sector led by a pick-up in economic activity, improved sentiments due to good rainfall prediction. This is ably supported by our focused product development efforts," commented Shroff. 

"Looking beyond the short-term challenges due to the second wave of COVID, we are bullish about the opportunities in the CRAMS space as companies increasingly shift focus towards exploring supply chains movement from China to India. We are very much focused on enhancing our R&D base and introducing new products in the space. Overall, the company is confident of overcoming near-term challenges and creating sustainable value for its stakeholder,” added Shroff.