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Meghmani Organics Ltd

Company details

98.00
100.00
88.65
152.50
6M Return -19.71%
1Y Return -9.75%
Mkt Cap.(Cr) 2,496.09
Volume 20,715
Div Yield 1.43%
OI
-
OI Chg %
-
Volume 20,715

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Meghmani Organics Ltd.

Q3FY23 Quarterly Result Announced for Meghmani Organics Ltd.

Agrochemicals firm Meghmani Organics announced Q3FY23 results:

  • Q3FY23:
    • The company could achieve a revenue of Rs 554 crore and Rs 1,992 crore for 9MFY23
    • EBITDA margins achieved 11% for Q3 and 14% for 9MFY23. The dip in performance in pigments was offset by agrochemicals.
  • Agrochemicals: constitutes 75% of the overall company’s revenue. During this quarter, the company was able to maintain EBITDA margins of 19.2% (against 17.5% in Q3FY22) despite adverse global macro challenges. The company is well positioned to benefit from ‘China plus one’ strategy of global players coupled with capex plans eyeing on new molecules in agrochemicals.
  • Pigments: constitute 25% of the overall company’s revenue. Currently pigment is witnessing slow export demand and contraction in prices due to challenging global macro environment. During the quarter pigment performance has been adversely impacted due to liquidation of high-cost inventory. We expect the recovery in the demand in the pigment division in the next few quarters.
  • Finance Cost:
    • MTM gain of Rs 73 crore on receivables has been shown as other income. MTM loss on foreign currency borrowing Rs 38 crore has been accounted as finance cost.
    • Out of Rs 38 crore MTM loss, Rs 35 crore is unrealised MTM loss.
    • During the Q3FY23, there is net foreign currency loss of Rs 19 crore while for 9M period there is a net foreign currency gain of Rs 35 crore.
    • Borrowing cost net of foreign currency impact is Rs 5.4 crore for Q3 and Rs 11.7 crore for 9MFY23

Commenting on this quarter’s performance, Mr. Ankit Patel, CEO said “the commercial production of the agrochemicals new Multi Product Plant was commenced in Q3 FY23 and plant is getting stabilised. It will add meaningful contribution from the next financial year. During the quarter, the company has entered into long term supply contract for 5 years with reputed Multinational Customer for its Agro Products. Total value of the contract is approximately Rs. 800 Cr. Also, the company shall foray into Nano Urea (Liquid) fertilizer through our wholly owned subsidiary Meghmani Crop Nutrition Ltd (MCNL) for which the company will incur a capex of Rs 150 crores for setting up the plant in Gujarat with annual capacity of 5 crore bottles (~500 ml) per year. The plant will commence commercial production from Q4FY24. MNCL aims to achieve a topline of INR 1,000 crores on an annualized basis. One of the essential developments is that on the pigment side, the Phase 1 of the Titanium Dioxide plant with 16,500 tons capacity was commissioned on 18th January 2023. The team is working towards stabilizing the plant and the Phase 2 capex plan of doubling TiO2 capacity to 33,000 tons p.a. along with captive power plant is expected to be completed in Q3 FY24 at capex of Rs 375 crore”.

 

Result PDF

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FINANCIALS

Sales

Operating Profit

Profit after Tax

Equity

Reserves and Surplus

Debt

Sales

Operating Profit

Profit after Tax

PE

Debt/Equity

P BV

COMPARISION

INSIDER & INSTITUIONAL ACTIVITY

Equity Capital: 1,466.22 Cr FV: 1.00

Period MF Net Purchase / (sold) FII Net
LAST 1M 22,728.09 -29,609.20
LAST 3M 42,048.80 -31,382.80
LAST 6M 65,127.04 16,114.05
LAST 12M 194,271.06 -118,498.61

INFORMATION

Stock PE (TTM)

8.74

Promoter Holding

49.37%

Book Value

63.112

ROCE

24.28%

ROE

23.07%

Description

  • Meghmani Organics Limited is a chemical manufacturing company with a market capitalization of Rs 2522.80 crore on 20th August ‘2021. Meghmani Organics Limited was incorporated on 02nd January ‘1995. The Bombay Stock Exchange (BSE) has assigned number 543331. As of 20th August 2021, Meghmani Organics Limited is trading at Rs. 99.20.

    The company is in the manufacturing of Pigments and Agrochemicals. The company is specialized in green and blue pigment, which has varied used applications, including printing Inks, Plastic, Rubber, Paints, Textiles, Leather, and Paper. The company’s agrochemical products find primary applications in crop protection and non-crop applications such as public health, termite and insect control, and veterinary applications. The company has six manufacturing facilities in Gujrat. The company has a Pan-India presence in around 75 countries with 3000 distributors. It also has a portfolio of more than 400 clients. As of 31st March 2019, the company had five subsidiaries, Meghmani Organics USA INC, P.T. Meghmani Organics Indonesia, Meghmani Overseas FZE-Sharjah-Dubai, Meghmani Finechem Limited, and Meghmani Agrochemicals Private Limited. As of 31st March 2020, Promoters within the company hold 51.52% of the total shareholding. Indian Public held the Balance of 48.48%. The Shareholders holding more than 5% of shares are Aashishbhai Natarwarlal Soparkar (10.52%), Patel Natarwarlal Meghjibhai (8.58%), Jayantibhai Meghjibhai Patel (7.45%), and Rameshbhai Meghjibhai Patel (6.57%). A company, Meghmani Organochem Limited, was incorporated on 15th October 2019 under the Companies Act, 2013 in Gujarat vide Certificate of Incorporation issued by the Registrar of Companies, Gujarat ("RoC"). It was incorporated as a wholly-owned subsidiary of Meghmani Organics Limited. According to the Scheme of amalgamation, the name of Meghmani Organochem Limited is changed to “Meghmani Organics Limited” upon receipt of the certificate of incorporation consequent upon change of name dated 03rd August 2021 from the RoC.

    In the financial year 2020-21, the company’s revenue from the Pigment segment is 57,838 lakhs, i.e. 35.63% of total revenue compared to which it was 28,366 lakhs in the corresponding year with covering 40.92% of total revenue. The Revenue of Agrochemicals has increased to 104,506 lakhs in FY 2020-21 from 40,956 lakhs in the corresponding year.

No Data Found

AGM Date (Month) : Sep
Face Value Equity Shares : 1
Market Lot Equity Shares : 1
BSE Code : 543331
NSE Code : MOL
Book Closure Date (Month) : Sep
BSE Group : A
ISIN : INE0CT101020

ICICIdirect Meghmani Organics Ltd FAQ

You can buy Meghmani Organics Ltd shares through a brokerage firm. ICICIdirect is a registered broker through which you can place orders to buy Meghmani Organics Ltd Share.
Company share prices and volatile and keep changing according to the market conditions. As of Feb 08, 2023 04:01 PM the closing price of Meghmani Organics Ltd was ₹ 98.15.
Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Feb 08, 2023 04:01 PM, the market cap of Meghmani Organics Ltd stood at ₹ 2,496.09.
The latest PE ratio of Meghmani Organics Ltd as of Feb 08, 2023 04:01 PM is 8.74
The latest PB ratio of Meghmani Organics Ltd as of Feb 08, 2023 04:01 PM is 0.64
The 52-week high of Meghmani Organics Ltd is ₹ 152.50 while the 52-week low is ₹ 88.65

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