Meghmani Organics Q2 FY25 financial results: Crop Protection segment reports Revenue of INR 397.7 crore, up by 50% YoY

Meghmani Organics Limited (MOL) (BSE: 543331, NSE: MOL), a fully integrated diversified chemical company announced its financial results for the second quarter ended 30 September 2024 (Q2 FY25).

Financial Results at Glance:

Revenue from operations stood at INR 532.6 crore for the quarter under review, growing by 42% YoY and 30% QoQ respectively on the back of healthy volume growth witnessed in both the segments. EBITDA for the quarter grew to INR 41.2 crore, increasing by 179% YoY and 190% on QoQ basis.

Crop Protection constitutes ~75% of the overall company’s revenue in Q2 FY25. The segment reported Revenue of INR 397.7 crore, up by 50% YoY and EBITDA of INR 43.2 crore, up by 75% YoY.

Pigments constitutes ~25% of the overall company’s revenue in Q2 FY25. The segment reported Revenue of INR 134.9 crore, up by 23% YoY and EBITDA of INR 4.2 crore, up by 268% YoY.

For the half year ended 30 September 2024 (H1 FY25), Revenue from operations stood at INR 943.7 crore as compared to INR 795.5 crore in the corresponding previous year, up by 19% YoY. EBITDA grew to INR 55.4 crore in H1 FY25 against INR (0.3) crore in the corresponding previous year.

Commenting on Q2 FY25 performance, Mr. Ankit Patel, Chairman & Managing Director said ″We have achieved positive growth momentum this quarter, with revenue and EBITDA growing by 42% and 179% on YoY basis. This was on the back of healthy volume growth reported in both the segments implying a gradual recovery in overall demand. However, price realization hasremained flattish across markets and we anticipate that with the current momentum in the demand recovery pricing should also improve going forward.

In our Crop Nutrition segment, we are witnessing gradual traction on the ground level which was a result of our extensive field activities with farmers showcasing the efficacy of Meghmani Nano Urea on different crops.

In Titanium Dioxide (TiO₂), we have achieved significant improvement in quality resulting in improved price realization and with the interim antidumping duty on TiO2 from China expected in Q3 FY25 there would be further improvement in price realization.″