Specialty chemicals company Yasho Industries announced Q1FY24 results:
- Revenue from operations of Rs 150.3 crore in Q1FY24 compared to Rs 177.2 crore in Q1FY23, down 15.2% YoY
- EBITDA of Rs 26.8 crore in Q1FY24 compared to Rs 33.8 crore in Q1FY23, down 20.7% YoY
- EBITDA margin of 17.8% in Q1FY24 compared to 19.1% in Q1FY23
- Profit after tax of Rs 14.8 crore in Q1FY24 compared to Rs 19.4 crore in Q1FY23, down 24.6% YoY
- PAT margin of 9.6% in Q1FY24 compared to 10.7% in Q1FY23
Commenting on the results, Parag Jhaveri, Managing Director & CEO, said, “Yasho Industries demonstrated a stable performance in the first quarter of FY24, achieving 6% volume growth despite facing challenging macroeconomic conditions resulting from the Ukraine War, high-cost inventories, and significant price drop. Nonetheless, we remain resolute in navigating through these turbulent times and devised strategies to ensure a more resilient performance in the upcoming quarters. We are closely monitoring the situation and will continue to do so for the next few quarters.
Regarding our capex initiatives, the greenfield project at Pakhajan is progressing as planned and is expected to commence production in early FY25. We consider this project crucial for our growth strategy and have strong confidence that it will create substantial value for our stakeholders.
Despite the short-term challenges, our long-term strategy remains unchanged, focusing on expanding manufacturing capacities, diversifying the product portfolio, and extending our market reach."