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Insecticides India Ltd Q1FY19 EBITDA at Rs. 558 Mn, up 9 %

Posted On: 2018-08-09 13:10:10

Insecticides India Ltd. (IIL), one of the premier agrochemical companies of India, announced its financial results for the quarter ended.

FY19 Q1 Performance Overview
- Total Revenue grew by 2.26 % to Rs. 3189.26 million in Q1 FY19 from Rs. 3118.71 million in Q1FY18 and 89% QoQ from Rs. 1,689.4 million in Q4FY18. The revenue posted a marginal growth, since the management has strategized to focus on branded segments with exponential margins with a higher concentration in the B2C business.

- EBITDA grew by 9.02% % YoY to Rs.557.60 million in Q1 FY19from Rs.511.46 million in Q1 FY18 & 193% QoQ from Rs 190 million in Q4 FY18. ilL posted an EBIDTAof Rs. 1,511 million with EBIDTA margin of 14.08 % for the full year of FY 2018, which is significantly higher compared to previous year i.e. FY2017. ilL has been able to demonstrate a buoyant growth of 219 bps on account of higher realization in the Maharatna category, change of product mix, addition of new products with higher margins and gradually shelving off the generic products.

- PAT increased by 11.44 % YoY to Rs. 339.92 million in Q1 FY19 versus Rs. 305.3 million in Q1 FY18. The PATfor FY18 stood at Rs. 840 million compared to Rs. 594 million in FY17 recording a growth of 40% YOY and a CAGR of 16.05% over the last 5 years. This demonstrates that the performance achieved is in line with the guidance given by the management.

- Diluted EPS for Q1 FY19stood at Rs. 16.45 per share as against Rs. 14.76 per share in Q1FY18 & Rs3.72 in Q4 FY18.

Commenting on the results, Mr. Rajesh Aggarwal, Managing Director, Insecticides (India) Ltd. said: On the company's performance, Mr. Rajesh Aggarwal, Managing Director, Insecticides (India) Ltd. (ilL) said, "The Company is firmly on growth path. We are witnessing great traction for our products since we've a leverage market presence and execution capabilities. Launch of new products gives us depth in our offerings to the markets and expanding geographical reach using existing librory of dossiers using Two-fold strategy of further penetrating existing markets and entering new markets. We focus on innovative formulations, creating brands, customer engagement and market expansion through own registrations. We expect to cantinue the same trend in our performance. ilLfirmly believes in its R&D team and their efforts to on-goingly deliver new product offerings which cater to market needs. These efforts are ably supported by our ground team which in-turn has benefitted millions of farmers by providing them products which are ecanomically viable for them and educating them to use it optimally. I firmly believe that ilL team will take the company to newer peaks.

The company has introduced a revolutionary biological product to answer the problem of soil degradation. At the same time, we will remain committed on improving our product mix, ongoing branding initiatives and new product offerings. The company has alwoys been working towards providing better solutions to farmers and improving their livelihood and it's going to be a positive contribution in the development of farmers ond agriculture. As a fast growing company, ilL is continuously updating itself by enhancing intellectual capabilities, manufacturing processes to offer smarter solutions to the challenges; an average farmer faces every day in his field. The Company keeps adding new products under 9(3) registration and is continuously on the lookout to bring the latest technology to Indian Farmers. The Company recently launched 4 new products under 9(3) registrations - Encounter, Sofia, Aikido and Hercules. All these four products are based on the combinations of two products that will provide synergistic effect in terms of better control and efficacy. By following stringent business model, the company is collaborating with global bronds and integrating its operations across R&D, manufacturing, marketing, development and distribution to deliver world class solutions to the farmers.

We have great faith in what we are doing and together we are looking forward to an exciting year ahead with newer opportunities and challenges. Your company shall continue to grow successfully. With the support of our customers, vendors and channel partners and other important stake holders, our will is to reach our goals with passion and determination.

I sincerely thank our Shareholders, entire IIL team, Management and Board for their continued support". - Rajesh Aggarwal, Managing Director, Insecticides (India) Ltd.

Shares of INSECTICIDES (INDIA) LTD. was last trading in BSE at Rs.775.05 as compared to the previous close of Rs. 790.25. The total number of shares traded during the day was 609 in over 85 trades.

The stock hit an intraday high of Rs. 786.25 and intraday low of 773.85. The net turnover during the day was Rs. 474942.


Source: Equity Bulls

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