Meghmani Organics’ agrochem sales up 30% in Q2 of FY 2014-15
Date:11-13-2014
Indian company Meghmani Organics has reported a 30% sales increase to Rs. 1,465.6 million of its agrochemical business in the second quarter of fiscal year 2014-15 which ended September 30th 2014. The gross profit of agrochemical division increased by 59.1% to Rs. 267.7 million and gross profit margin rose from 14.9% in Q2 of last year to 18.3% in the same period of this year due to better price realization.
Domestic sales increased by 56.7% from Rs. 399 million in Q2 FY 2013-14 to Rs. 625.1 million which accounted for 42.7% of total income of agrochemical business. Revenue derived from export sales increased by 15.4% to Rs. 840.5 million.
Revenue of agrochemical business increased by 19.5% to Rs. 2433.3 million in the first half year of FY 2014-15. Domestic sales increased by 56.8% to Rs. 890.3 million, while export sales up slightly by 5.1% to Rs. 1,543 million. Gross profit surged by 93.3% to Rs 418.6 million and the gross profit margin increased from 10.6% to 17.2%.
The company expected to see the improvements in revenue of their Agro-â…˘ Plant, but they also worried about the erratic monsoon season might have impact on the sales and profitability of agrochemicals in Q3 FY 2014-15.
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