Stock Report

Meghmani Finechem Limited Q1FY22 PAT up at Rs. 36.95 crore

Posted On : 2021-08-18 16:51:20( TIMEZONE : IST )

Meghmani Finechem Limited has reported financial results for the period ended June 30, 2021.

Financial Results (Q1 FY2021-22) - QoQ Comparison

The company has reported total income of Rs.290.51 crores during the period ended June 30, 2021 as compared to Rs.258.52 crores during the period ended March 31, 2021.

The company has posted net profit / (loss) of Rs.36.95 crores for the period ended June 30, 2021 as against net profit / (loss) of Rs.32.76 crores for the period ended March 31, 2021.

The company has reported EPS of Rs.8.89 for the period ended June 30, 2021 as compared to Rs.5.61 for the period ended March 31, 2021.

FinancialsQ1 FY2021-22Q4 FY2020-21% Change
Total Income₹ 290.51 crs₹ 258.52 crsUp Tick 12.37%
Net Profit₹ 36.95 crs₹ 32.76 crsUp Tick 12.79%
EPS₹ 8.89₹ 5.61Up Tick 58.47%

The shareholders of Meghmani Organics Ltd (Face value ₹ Rs. 1 per share) were allotted shares of MFL (Face value of ₹10 per share) in the ratio of 1000:94. Considering the face value of both the companies at same price, ratio comes to 94 shares of MFL against 100 shares of MOL.

Commenting on the results Mr. Maulik Patel; Chairman and Managing Director - MFL said: "The listing of MFL as a separate entity is a key milestone in our journey towards sustainable and long term value creation. We at MFL have a singular focus of creating a world-class chemicals company with strong focus on sustainability.

Our highly capable management team and our motivated workforce are ensuring that we continue our strong growth trajectory. This is also evident from the fact that we delivered on of our best operational and financial performance in Q1FY22, despite an extremely challenging environment on account of 2nd wave of Covid. Our revenue and profitability both grew 2.1x compared to Q1 of last year. We have been able to maintain our balance sheet strength and our growth have primarily been financed through strong internal cash flows. We hope to maintain similar momentum in the coming quarter and are confident of delivering superior stakeholder value."

The expansion plan of Epichlorohydrin (50 KTPA), CPVC (30 KTPA), Caustic Soda (106 KTPA) and CPP (36 MW) are going as per schedule.

Source : Equity Bulls