Stock Report

India Pesticides Ltd announces Q4FY24 results

Posted On : 2024-05-31 11:54:45( TIMEZONE : IST )

India Pesticides Limited (BSE: 543311; NSE: IPL), One of the fast growing agro-chemical companies for technical manufacturing ("IPL" or the "Company"), announces its results for quarter and year ended March 31st, 2024.

Key Performance Highlights for the FY24:

- Total Income was Rs. 696 Cr
- EBITDA of Rs. 102 Cr with EBITDA margin of 14.6%
- Net Profit of Rs. 60 Cr with PAT margin of 8.7%

Commenting on the performance, Mr. Anand S. Agarwal, Director, Founder & Promoter said, "FY24 has been a challenging year for our industry, marked by significant headwinds from international markets due to decreased demand and high channel inventory. Additionally, the conflict in the Red Sea region has led to a significant surge in freight expenses and transit time, exerting pressure on both revenue and profitability.

We remain committed to navigating these challenges with a focus on long-term growth and sustainability.

We are pleased to announce the successful commissioning of production from the first block of our subsidiary, a key milestone achieved this quarter. All our capex plans are progressing as planned, and we continue to strategically enhance our R&D capabilities, positioning us for potential yield improvements in the coming years. Additionally, we are realigning our existing plants for better capacity utilization.

During the year, we have implemented strategic changes in our leadership team to better align with our long-term goals and drive future growth.

We are moving ahead with clear vision of growth and are committed to fortifying our leadership in the domestic market, perpetually innovating, and extending our impact on a global scale. Our objectives for FY25 are firmly established, and with your continued support, we advance with unwavering confidence."

Shares of India Pesticides Ltd was last trading in BSE at Rs. 218.70 as compared to the previous close of Rs. 219.05. The total number of shares traded during the day was 70809 in over 1914 trades.

The stock hit an intraday high of Rs. 221.95 and intraday low of 215.75. The net turnover during the day was Rs. 15497631.00.