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Seya Industries Ltd 9MFY19: Sustained Momentum in Business

Posted On: 2019-02-16 10:11:55

Seya Industries Limited, Mumbai based emerging leader in specialty chemicals industry, has announced its un-audited financial results for the Quarter ended December 31, 2018.

- Revenue grew by 27.5% to Rs. 317.4 Cr in 9MFY19 as compared to Rs. 249 Cr in 9MFY18 led by higher volume sold of value-added products and better realizations due to Environmental challenges and production disruptions in China

- EBITDA grew by 41.8% to Rs.108.7 Cr as against Rs.76.7 Cr in 9MFY18. The EBITDA margins for 9MFY19 is 34.3%, an expansion of 350 bps largely led by higher volumes of value-added products and better realizations

- PBT grew by 58.6% to Rs. 82.6 Cr as against Rs. 52.1 Cr in 9MFY18

- PAT grew by 63.7% to Rs. 64.5 Cr for 9MFY19 as against Rs. 39.4 Cr in 9MFY18. The PAT margins for 9MFY19 is 20.3%, an expansion of 450 bps

- Company is protected from any volatility in rupee as its 100% of supply contracts are in domestic currency and domestic market demand & pricing is in parity with international market

Commenting on the performance Mr. Ashok Rajani, Chairman & Managing Director, Seya Industries Limited said "The momentum in the business has continued, with 28% revenue growth in 9MFY19 led by consumer demand for value added products and supported by better realisations. With continued environmental issues in china, the overall scenario has been favourable for the domestic suppliers.

With continued focus on volume growth of high value and high margin forward integrated products, we shall be doubling capacity for a select value-added product by end of Q4FY19 and shall further be de-bottlenecking and improving efficiencies of existing capacities in FY20.

To ensure timely completion of our expansions and to meet the long term working capital requirements of our growing operations, we are in process of raising funds to the tune of Rs. 100 Crores.

Our mega greenfield project is on schedule to be operationalised by second half of financial year 2020. This expansion shall lead to quantum leap in the profitability and will help us achieve our vision to be an Integrated Global Producer for Speciality Chemicals."

Shares of SEYA INDUSTRIES LTD. was last trading in BSE at Rs.467.15 as compared to the previous close of Rs. 491.2. The total number of shares traded during the day was 10587 in over 165 trades.

The stock hit an intraday high of Rs. 494.8 and intraday low of 467.15. The net turnover during the day was Rs. 5081776.

Source: Equity Bulls

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