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Super Crop Safe Limited announces Q2FY23 Financial Results

Posted On : 2022-11-17 13:27:49( TIMEZONE : IST )

Super Crop Safe Limited announces Q2FY23 Financial Results

Super Crop Safe Limited (BSE: 530883), a leading manufacturer and trader of Agro-chemicals, with leadership in the manufacturing of Pesticides, Bioproducts and Nutraceuticals, announced their unaudited financial results for the second quarter and half year ended September 2022.

Financial Review:

Revenue from operations increased to ₹ 675 lakhs during Q2 FY23, registering a growth of 57% on quarter and 24% from last year same period, while on half year basis it slipped by 7%.

Significant improvement can be seen on profitability front. EBITDA during Q2 FY23 it stood at ₹ 75 lakhs as compared to previous year same quarter it grew by 201%, on q-o-q basis it is a increase of 102% and 170% on YTD basis. Profit after tax (PAT) grew by 125% on y-o-y basis to stands at ₹ 29 lakhs during Q2 FY23 while it grew by 76% on q-o-q basis.

Profit margins have also improved, EBITDA margin and PAT margin stood at 11% and 4% respectively during the quarter.

Finance cost remained flat during the quarter while on account of increase in interest rate, a rise of ₹ 2.5 lakhs is seen on YTD basis.

"This year started with the tough environment across the whole world. The first half of FY23 continued to see disruptions and inflationary pressure on certain operating costs such as raw material, power and fuel. The COVID lockdowns may be behind us, but the disruption it caused in the entire supply chain is still causing pain to manufacturers.

On the operations front, we have strengthened our core team and changes made in the company strategy during past quarters have started showing positive results. Your Company has posted stellar numbers, revenue has grown by 57% from last quarter. During the previous quarter we turned EBITDA positive and, in this quarter, we have a growth of more than 200% from last year's quarter. As we move ahead in this year these EBITDA numbers will further strengthen. We are proud to announce that we have turned PAT positive during this quarter.

There is certain impact of delay in the monsoon during this quarter otherwise the revenue numbers could be much higher than the currently reported. Now, these sales number will get added to our H2 and we will witness a strong growth in the second half of the year. As soon as the raw material and power cost eases, our margins will further improve from here. We will try and continue to maintain the positive streak across numbers.

Your Company has been struggling with many internal and external challenges from past few years, but we worked hard to stand tall again. We are better positioned than ever to set a higher growth target for ourselves." said Mr. Nishant Patel, Managing Director, Super Crop Safe.

Shares of SUPER CROP SAFE LTD. was last trading in BSE at Rs. 6.55 as compared to the previous close of Rs. 6.77. The total number of shares traded during the day was 20522 in over 149 trades.

The stock hit an intraday high of Rs. 6.80 and intraday low of 6.41. The net turnover during the day was Rs. 135269.00.

Source : Equity Bulls


SUPERCROPSAFE INE366G01022 Q2FY23 H1FY23 ResultUpdate