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I G Petrochemicals Ltd reports Q4, FY19 results

Posted On: 2019-05-24 15:35:34

I G Petrochemicals Limited, the largest Indian manufacturer of Phthalic Anhydride (PAN) has declared its Audited Financial Results for the quarter and full year ended 31st March, 2019.

Highlights of FY19

- Total Revenue increased by 14% to Rs. 1,311 crores compared to Rs. 1,148 crores for FY18

- Volumes:

* PAN stands at 1,57,889 metric tonnes compared to 1,53,728 metric tonnes for FY18
* MA stands at 4,547 metric tonnes compared to 3,390 metric tonnes for FY18

- EBITDA for FY19 stood at Rs. 234 crores; EBITDA Margins at 17.8%

- Profit after Tax stands at Rs. 116 crores; PAT Margins at 8.9%

Highlights of Q4 FY19

- Total Revenue remained flat at Rs. 315 crores as against Rs. 314 crores in Q4 FY18

- Volumes:
* PAN stands at 41,617 metric tonnes compared to 38,770 metric tonnes for Q4FY18
* MA stands at 1,251 metric tonnes compared to 704 metric tonnes for Q4 FY18

- EBITDA for Q4 FY19 stood at Rs. 39 crores; EBITDA Margins at 12.3%

- Profit after Tax stands at Rs. 18 crores; PAT Margins at 5.8%

During the second half of FY19, there has been a significant rise in prices of OX due to volatility in the crude prices, increase in PX prices led by higher demand (Co-product of OX) and geopolitical issues in global market. However, prices of PAN remained range bound which impacted the overall EBITDA Margins and profitability of the Company. Recently we have witnessed sharp decline in PX prices which will also translate into improvement in overall margins going ahead.

Commenting on the results and performance, Mr. Nikunj Dhanuka, Managing Director & CEO said: "Although the overall business environment has seen a significant change during the financial year 2019, the company has delivered a healthy performance on the back of our sustained efforts to improve operational efficiencies within the company.

The applications of PAN are increasing rapidly and we are extremely confident that the demand for the product is going to grow manifolds in the years to come. As we are the largest and the most cost effective producer of PAN in India, we are well placed to capture the growing demand in the future. With higher capacity of PAN coming on-stream, along with our efforts of improving operating efficiencies we are confident of delivering better performance in the years to come."

Shares of I G PETROCHEMICALS LTD. was last trading in BSE at Rs.256.55 as compared to the previous close of Rs. 261.4. The total number of shares traded during the day was 904 in over 39 trades.

The stock hit an intraday high of Rs. 267.5 and intraday low of 252. The net turnover during the day was Rs. 232435.


Source: Equity Bulls

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