Notes from Q1 FY24 Earnings Conference Call Transcript
India is already the 4th largest producer of Agchem, and now No. 2 in the world
Still Growing:
Given a target of between 18% to 20% revenue growth in the
current fiscal year
PI overall year-on-year basis during Q1,
- a 24% revenue growth and
- a 35% increase in EBITDA and
- a profit after tax recorded a 46%
- exports with a 33% growth year-on-year
Subdued domestic growth due to monsoons
Five innovative products are planned for this fiscal year
In Q1, we have launched
EKETSU. EKETSU is India’s first three-way herbicide mixture to provide maximum
weed control and efficacy for total control in rice herbicides
- Commercialized one new molecule and remained well on track for
- commercializing 4 to 5 new molecules every year as guided earlier.
Integration on target as per KPI’s
14%-15% margin target during transition and 20% – 24% after stabilisation
Destocking is happening at the channel level and not at the consumption level
Work is on to diversify the revenue streams:
Non Agchem products including electronic chemicals, specialty polymers etc
Exports Data: ( Source Redboxglobal Twitter)
Chemical Exports for Aug’23
PI Industries
- PI Industries exports increased by 35% yoy to Rs 5,390mn in Aug’23 while YTD exports increased by 22% yoy to Rs 24,819mn.
- Pyroxasulfone volumes increased by 50% yoy in Aug’23 while YTD export volumes increased by 51% yoy.
- Pyroxasulfone sales increased by 48% yoy to Rs 3,647mn and stood at 68% of overall revenue in Aug’23 while YTD Pyroxasulfone sales increased by 59% yoy to Rs 15,515mn and stood at 63% of overall revenues.
- Ex-Pyroxasulfone revenues increased by 15% yoy to Rs 1,743mn in Aug’23 while YTD Ex-Pyroxasulfone revenues declined by 7% yoy to Rs 9,296mn
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