China’s manufacturing activity expanded for the first time in six months in October, underpinned by strong domestic demand, official survey data revealed Thursday.
Posts tagged All News
Nifty October futures trade at premium (31-10-2024)
Reliance Industries, Larsen & Toubro and Tata Motors were the top traded contracts.
North Korea, in the Spotlight Over Ukraine, Launches a Long-Range Missile (31-10-2024)
The launch, into waters west of Japan, came shortly after the United States and South Korea criticized the North for sending troops to join Russia’s war.
Some people want to spread anarchy, create negative perception in investors’ mind about India: PM Modi (31-10-2024)
“These people both from inside and outside India are trying to spread anarchy and restlessness within India,” Modi said adding that these forces are also trying to hurt the economic welfare of the country.
Stock market update: Mining stocks down as market falls (31-10-2024)
The 30-share BSE Sensex closed down 553.12 points at 79389.06
Japanese markets down after BoJ policy decision (31-10-2024)
Chinese markets bucked the weak regional trend ahead of a highly anticipated top legislative bond meeting scheduled in Beijing on Nov. 4-8, with investors awaiting details of stimulus measures.
Meghmani Organics Ltd (31-10-2024)
Meghmani Organics Limited – Q2 FY25
| Division | Revenue (INR Crores) | Revenue Growth (Y-o-Y) | Production Volume (Metric Tons) | Production Growth (Y-o-Y) | Capacity Utilization |
|---|---|---|---|---|---|
| Crop Protection | 397 | 50% | 11,473 | 38% | 84% |
| Pigment | 135 | 23% | 3,692 | 24% | 45% |
| Titanium Dioxide | Not Available | Not Available | Not Available | Not Available | 40% |
| Crop Nutrition | Not Available | Not Available | Not Available | Not Available | Not Available |
Key Financials (Q2 FY25 – Standalone Basis)
- Revenue: INR 532 Crores (42% growth year-over-year, 30% growth quarter-over-quarter)
- EBITDA: INR 41.2 Crores (179% growth year-over-year, 190% quarter-over-quarter)
- Net Profit: INR 8.6 Crores (compared to a loss of INR 3.6 crores in Q2 of the last fiscal year)
- Revenue Mix:
- Crop Protection: 75%
- Pigment Segment: 25%
Key Pointers
- Demand Recovery: The company is seeing a gradual recovery in demand in both the Crop Protection and Pigment segments. This is attributed to:
- Completion of channel inventory destocking.
- Gradual increase in demand.
- Anticipated Price Improvement: The management expects pricing to improve in the coming quarters. This is based on:
- Expectations that demand will continue to outpace supply.
- Decreasing logistics costs.
- New Product Launches: The company has introduced multiple new products in the last two years, including:
- Flonicamid
- Ethiprole
- Cyfluthrin
- Beta Cyfluthrin
- Dinotefuran
- Spiromesifen
- Flubendiamide
- Cyhalothrin
- Brazil Expansion: The company is establishing a subsidiary in Brazil to facilitate product registrations and expand their market reach in this significant market.
- Capacity Utilization:
- Crop Protection: 84% in Q2 FY25
- Pigment: 45% in Q2 FY25
- Titanium Dioxide: 40% in Q2 FY25
- Titanium Dioxide Performance: The performance of this division is uncertain and dependent on the imposition of anti-dumping duties on Chinese imports.
Future Outlook
- Return to Double-Digit Growth: The company anticipates regaining its historical double-digit growth trajectory based on its infrastructure, diverse product range, and market reach.
- Focus on Operational Efficiency: Management plans to focus on increasing capacity utilization and reducing debt in the near term to improve profitability.
- Limited Capital Expenditures: Meghmani Organics does not plan significant capital expenditures in the coming years.
Challenges
- Titanium Dioxide Uncertainties: The success of the TiO2 investment is heavily dependent on government action (anti-dumping duties). The management is exploring ways to improve efficiency and profitability even without these duties.
- Pigment Segment Competition: Managing competition from smaller players, potentially operating with lower costs, will be critical to improving margins in this segment.
Sensex falls! But these stocks gained over 10% on BSE (31-10-2024)
In the Nifty 50 index, 13 stocks ended in the green, while 37 stocks closed in the red in today’s trade.
Sensex tumbles 553 points on selling in IT stocks (31-10-2024)
From the 30-share Sensex pack, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Asian Paints, Infosys and Maruti Suzuki were the biggest laggards.