Disastrous results indeed ! 73% drop in PAT (YoY), Revenue declined by almost 30%. Poor operational performance overall. Management just blamed everything on geo-political concerns, macro economic conditions etc. “Revenue is impacted by challenging global macros including prolonged geopolitical concerns, rising inflation in major economies and slowdown in demand. The domestic technical business witnessed lower demand due to challenging market conditions coupled with higher inventory. The company’s export business was impacted by volatile global macroeconomics. The Ebitda margins were suppressed during the period due to higher raw material prices and an increase in power & fuel costs. The near-term outlook is challenging for the entire agrochemical industry. However, Heranba will continue to diversify its product portfolio, widen its distribution network and sharpen its R&D focus for creating sustainable growth, the management said.”
Wondering if other agro-chemical companies are also expecting similar dismal results or is it just a one off for Heranba. @Experts – please share your analysis of these results.
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