Punjab Chemicals Consolidated September 2023 Net Sales at Rs 242.18 crore

Punjab Chemicals and Crop Protection Limited (Punjab Chemicals) has reported financial results for the quarter and half year ended September 30, 2023.

Result Highlights:

• Registered a Revenue of Rs 242 Cr in Q2 FY24 and for H1 FY24 at Rs 524 Cr; led by 12% YoY growth in domestic sales.

• Gross Margin at 41% for the quarter increased by 350 bps YoY, whereas for H1 FY24 stood at 37.7%, attributable to improved product mix.

• EBITDA for Q2 FY24 stands at Rs. 35 Cr, delivering a growth of 14.2% YoY, and for H1 FY24 at Rs. 73 Cr, delivering a growth 10% YoY. Change in product mix and initiatives for cost optimization led to the significant improvement.

• EBITDA Margin for quarter stands at 14.6%, an increase of 350 bps YoY; H1 FY24 Margin at 14%, increase of 190 bps YoY.

• PAT for the quarter stands at Rs 18 Cr, up by 3% YoY and for H1 FY24 at Rs. 40 Cr, registering an increase of 6% YoY.

• PAT Margin for Q2 FY24 stands at 7.5%, and 7.6% for H1 FY24.