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NACL Industries Ltd reports financial results for Q1 FY20

Posted On: 2019-08-16 22:18:51

In its meeting held on August 14, 2019, the Board of Directors of NACL Industries Ltd have approved the Q1 (FY 2019-20) results of the Company.

Total income for the Quarter under review is Rs.198.29 Cr. compared to Rs.222.46 Cr. in the corresponding quarter of the previous year showing a decrease of 11%.

Earnings before Interest, Depreciation and Tax (EBIDT) and Profit Before Tax (PBT) for the Quarter are Rs.13.88 Cr. and Rs.1.43Cr. respectively.

Market Situation:

Domestic retail market recorded lesser sales in Q1 compared to same quarter of last year due to low off-take on account of delayed monsoon. With satisfactory rainfall across the country in August, agricultural operations are reviving.

A new product - CAMBIUM (a herbicide) has been launched in the market which caters to the Soya Bean crop.

There was a decline in Exports when compared to the corresponding period of last year. The key reasons for the decline in business is unfavourable season and input material shortage. However, the outlook for the coming quarters looks positive.

Raw-material supply:

Raw-material supply from China continues to be a concern due to volatility in prices and availability. However, necessary steps are being taken to mitigate the impact.

Plant Operations:

A new facility is being built at the Srikakulam site to meet the expected growth in demand for Technicals as well as Intermediates. This is also to mitigate input supply risk from China. Manufacturing of a new Intermediate has commenced at Srikakulam Plant in this quarter.

At Ethakota Plant manufacturing of new product "SMASH" has commenced.

Shares of NACL Industries Ltd was last trading in BSE at Rs.27.5 as compared to the previous close of Rs. 26.05. The total number of shares traded during the day was 12431 in over 46 trades.

The stock hit an intraday high of Rs. 27.5 and intraday low of 25.1. The net turnover during the day was Rs. 339803.

Source: Equity Bulls

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