Heranba Industries Ltd. (BSE: 543266, NSE: HERANBA, ISIN: INE694N01015), one of India's leading Agrochemical company has announced its financial results for Third quarter and Nine months ended December 31st, 2023.
Key Financial Highlights:
Revenues: The company reported revenues of ?301.70 crore in Q3 FY24, marking a notable growth of 7.60% compared to ?280.21 crore in Q3 FY23. Despite the challenging economic environment, the company has shown resilience and achieved positive revenue growth.
EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization): The EBITDA for Q3 FY24 stood at ?34.94 crore, reflecting a substantial increase of 32.09% from ?26.45 crore in Q3 FY23. This significant improvement in EBITDA indicates enhanced operational efficiency and cost management by the company.
EBITDA Margin: The company reported an EBITDA margin of 11.58% in Q3 FY24, representing an expansion of 215 basis points (bps) from 9.43% in Q3 FY23. The improvement in EBITDA margin signifies better control over operating expenses and improved profitability.
Profit After Tax (PAT): The company achieved a PAT of ?19.21 crore in Q3 FY24, indicating a substantial growth of 33.49% compared to ?14.39 crore in Q3 FY23. This increase in PAT highlights the company's ability to generate higher profits despite external challenges.
PAT Margin: The company reported a PAT margin of 6.36% in Q3 FY24, up by 123 bps from 5.13% in Q3 FY23. Despite the decline in revenue, the improvement in PAT margin reflects the company's efforts towards optimizing costs and maximizing profitability.
Mr. Raghuram K. Shetty, Managing Director of Heranba Industries Limited, commented, "The Company revenues stood at ?301.70 Cr. in Q3FY24 driven by strong performance in domestic markets navigating uneven monsoon distribution. Our export business was affected by the weak export demands & falling prices.
We are dedicated to accelerating revenue growth and productivity efforts in order to achieve significant margin expansion and we continue to view FY24 as crucial acceleration point in Heranba's trajectory.
Shares of Heranba Industries Limited was last trading in BSE at Rs. 381.40 as compared to the previous close of Rs. 371.55. The total number of shares traded during the day was 29538 in over 1774 trades.
The stock hit an intraday high of Rs. 399.00 and intraday low of 360.00. The net turnover during the day was Rs. 11112713.00. |
