Ami Organics Ltd.
Q2FY23 Quarterly Result Announced for Ami Organics Ltd.
Pharmaceutical company Ami Organics announced Q2FY23 Results:
- Revenue from operations for Q2FY23 grew by 20.2% YoY to Rs 1,470 million; sequentially revenue grew by 12.2%
- The gross margins for the quarter were at 48.0%, compared to 54.0% in Q2FY22 and 48.8% in Q1FY23
- EBITDA for the quarter came at Rs 281 million, up 2.8% YoY compared to Rs 274 million in Q2FY22 and up 18.8% on a sequential basis compared to Rs 237 million in Q1FY23
- EBITDA margins for the quarter were at 19.1%, compared to 22.4% in Q2FY22 and 18.1% in Q1FY23. We have been able to improve our EBITDA margin on a sequential basis due to improvements in operating expenses, whereas, lower EBITDA margins of the Specialty Chemical business continue to put pressure on consolidated EBITDA margins
- PAT for the quarter was at Rs 190 million, up 9.0% YoY. The PAT margins for the quarter were at 13.0%, compared to 14.3% in Q2FY22 and 11.3% in Q1FY23
Naresh Patel, Executive Chairman & Managing Director, Ami Organics Limited, said: “We continue our robust trajectory with 20% YoY growth during Q2, primarily driven by a significant increase in the advanced pharmaceutical intermediate business, which grew by 25% YoY. That said, the company witnessed a flattish growth in the speciality chemicals business. Our margins continue to strengthen as we keep tight control on cost and because of lower freight rates. I believe margins will continue to see the improvement in coming quarters.
I am delighted to announce that we have successfully developed Methyl Salicylate using flow technology, which is expected to be commercialised from Q3 onwards. This shift in manufacturing technology has resulted in a considerable reduction in production time, 3x capacity expansion, and cost savings of around 5-7%.
Electrolyte additives continue to see good inquiries from clients across the globe and we expect to commercialise the product before the end of FY23.
Overall, I remain optimistic about our business growth in the coming quarters and years on the back of various strong growth levers.”