Vishnu Chemicals Ltd announces Q3FY24 results

Vishnu Chemicals Limited (BSE: 516072, NSE: VISHNU), epitomises manufacturing of high-performance specialty chemicals, has reported its unaudited financial results for the quarter and nine months ended 31st December 2023.

Total Income: In Q3FY24, Vishnu Chemicals reported a consolidated total income of Rs 308 crore, showing a marginal decline of 1% compared to Rs 311 crore in Q2FY24. Similarly, on a standalone basis, the total income stood at Rs 258 crore, reflecting a 4% decrease from Rs 269 crore in the previous quarter.

Gross Profit: The consolidated gross profit for Q3FY24 was Rs 134 crore, down by 3% from Rs 139 crore in Q2FY24. On a standalone basis, the gross profit was Rs 109 crore, showing a similar decline of 3% from the previous quarter.

EBITDA: Vishnu Chemicals reported a consolidated EBITDA of Rs 45 crore in Q3FY24, representing an 8% decrease from Rs 49 crore in Q2FY24. The standalone EBITDA for the quarter was Rs 39 crore, slightly lower by 3% compared to the previous quarter.

PAT (Profit After Tax): The consolidated PAT for Q3FY24 was Rs 21 crore, marking a decline of 13% from Rs 24 crore in Q2FY24. Similarly, the standalone PAT stood at Rs 22 crore, reflecting a 6% decrease from the previous quarter.

Gross Margin: Despite the slight decline in total income and gross profit, Vishnu Chemicals managed to maintain its gross margin. The consolidated gross margin stood at 44.3% in Q3FY24, while the standalone gross margin was 43.1%.

EBITDA Margin: The EBITDA margin witnessed a marginal decrease on a consolidated basis, standing at 14.6% in Q3FY24. However, on a standalone basis, the EBITDA margin remained stable at 15.1%.

PAT Margin: Both consolidated and standalone PAT margins experienced a slight decline in Q3FY24, indicating some pressure on profitability. The consolidated PAT margin was 6.7%, while the standalone PAT margin stood at 8.6%.

Mr. Ch. Krishna Murthy, CMD, Vishnu Chemicals Limited said, "With a disciplined approach, we will continue our focus on key priorities to operate sustainably and create long term value through our execution and ROCE accretive projects."

"Despite challenges in the past nine months, we observe positive developments in the operational landscape. As the stabilisation period for our new projects concludes in Q4FY24, we express confidence in achieving enhanced performance in the upcoming quarters." said Mr. Ch. Siddartha, JMD, Vishnu Chemicals Limited.

Source : Equity Bulls

Keywords

VishnuChemicals Q3FY24 9MFY24 ResultUpdate