Heranba Industries Ltd Q3 FY2023 net profit slumps to Rs. 14.39 crores

Heranba Industries Limited has reported Standalone financial results for the period ended December 31, 2022.

Financial Results (Q3 FY2023) - QoQ Comparison

The company has reported total income of Rs. 281.092 crores during the period ended December 31, 2022 as compared to Rs. 427.343 crores during the period ended September 30, 2022.

The company has posted net profit / (loss) of Rs. 14.39 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs. 47.681 crores for the period ended September 30, 2022.

The company has reported EPS of Rs. 3.60 for the period ended December 31, 2022 as compared to Rs. 11.92 for the period ended September 30, 2022.

Financial Results (Q3 FY2023) - YoY Comparison

The company has reported total income of Rs.281.092 crores during the period ended December 31, 2022 as compared to Rs.400.522 crores during the period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.14.39 crores for the period ended December 31, 2022 as against net profit / (loss) of Rs.53.485 crores for the period ended December 31, 2021.

The company has reported EPS of Rs.3.60 for the period ended December 31, 2022 as compared to Rs.13.37 for the period ended December 31, 2021.

Financial Results (9 Months Ended FY2023) - YoY Comparison

The company has reported total income of Rs.1074.806 crores during the 9 Months period ended December 31, 2022 as compared to Rs.1114.806 crores during the 9 Months period ended December 31, 2021.

The company has posted net profit / (loss) of Rs.95.779 crores for the 9 Months period ended December 31, 2022 as against net profit / (loss) of Rs.146.487 crores for the 9 Months period ended December 31, 2021.

The company has reported EPS of Rs.23.94 for the 9 Months period ended December 31, 2022 as compared to Rs.36.61 for the 9 Months period ended December 31, 2021.

Mr. Raghuram K. Shetty, Managing Director of Heranba Industries Limited, commented, ″The Company’s 9M FY23 revenues stood at %10,655 million impacted by challenging global macros including prolonged geopolitical concerns, rising inflation in major economies and slowdown in demand. The domestic technical business witnessed lower demand due to challenging market conditions coupled with higher inventory. Our export business was impacted by volatile global macroeconomics. The EBITDA margins were suppressed during 9MFY23 due to higher raw material prices and an increase in power & fuel costs.

Heranba’s capex plans are progressing as planned and it will further strengthen the Company’s capacities and capabilities for the coming years. Heranba aims to leverage its sales and marketing teams reach to strengthen its relationships with existing customers along with adding new customers. The near-term outlook is challenging for the entire agrochemical industry. However, Heranba will continue to diversify its product portfolio, widen its distribution network and sharpen its R&D focus for creating sustainable growth.″