Laxmi Organic Industries Q1 results 2022: PAT grew 13% to ₹64.8 Cr QoQ but fall 36.6% YoY, Sales up 2.8% YoY

AI business Contribution to the Profits, 50% Debottlenecking capex in AI – less than 5% of annual capex Acetyls Intermediary Business Overview : Volumes grew by around 50% YoY on the back of the YCPL acquisition and remained flat QOQ Exports contributed higher to the AI sales in Q1FY23. The ratio of export to domestic sales in AI segment grew in line with volume growth CM% improved ca. 30% QOQ

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Laxmi Organic Industries Ltd is a leading manufacturer of Acetyl Intermediates (AI) and Specialty Intermediates (SI) with almost three decades of experience in large scale manufacturing of chemicals.

The Company is currently among the largest manufacturers of ethyl acetate in India with a market share of approximately 30% of the Indian ethyl acetate market.

Now, the company has posted its Q1FY23 financial results today, the details are as below :

(I) Unaudited Consolidated Financial Results for Quarter Ended (QOQ comparison):

Laxmi Organic Industries Q1 results 2022 reported, a consolidated Total Income of ₹758.72 crore in the quarter ended on June 30, 2022 as against ₹881.76 crore in the last quarter ended on Mar 31, 2022, decreased by 13.95%.

The company has posted a consolidated Net Profit of ₹64.86 crore in the quarter ended on March 31, 2022 as against ₹57.39 crore in the previous quarter ended on June 30, 2022. The PAT surges up by 13.01%.

The status of the EPS of the company stood at ₹2.43 as on March 31, 2022 compared to the previous quarter ended on June, 2022 which was ₹2.28, up by 6.58%.

₹*June 30, 2022 (Q1FY23)Mar 31, 2022 (Q4FY22)
Total Income758.72881.76
Total Expenses671.83825.30
PBT /(Loss)86.8856.46
Total Tax /(credit)22.014.47
PAT /(Loss) [to the owners]64.8657.39
*figures are in Crores

(II) Unaudited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹758.72 crore in the financial year ended on June 30, 2022 as against ₹740.62 crore for the same quarter ended on last year June 30, 2021 that increased by 2.44%.

Q1 results 2022 of Laxmi Organic Industries shows a consolidated Net Profit of ₹64.86 crore in the financial year ended on June 30, 2022 as against ₹102.32 crore for the same quarter ended on last year June 30, 2021. The PAT surges down by 36.61%.

The status of the EPS of the company stood at ₹2.43 as on June 30, 2022 compared to the quarter ended on last year June 30, 2021 which was ₹3.85, down by 36.88%.

₹*June 30, 2022 (Q1FY23)June 30, 2021 (Q1FY22)
Total Income758.72740.62
Total Expenses671.83604.76
PBT /(Loss)86.88135.86
Total Tax /(credit)22.0123.81
PAT /(Loss) [to the owners]64.86102.32
*figures are in Crores
Laxmi Organic

(III) Key Highlights about the Performance :

  • AI business Contribution to the Profits, 50%
  • Debottlenecking capex in AI – less than 5% of annual capex
  • Acetyls Intermediary (AI) – Market Overview :
    • Acetic acid prices saw softening and we optimized RM purchase between local supplies and imports
    • continue to maintain 33% of market share in the AI business
  • Acetyls Intermediary Business Overview :
    • Volumes grew by around 50% YoY on the back of the YCPL acquisition and remained flat QOQ
    • Exports contributed higher to the AI sales in Q1FY23. The ratio of export to domestic sales in AI segment grew in line with volume growth
    • CM% improved ca. 30% QOQ
  • Specialty Intermediaries (SI) – Business Performance :
    • New plant commissioned for supplying of a higher value molecule for global use. Sales to start in Q2FY23
    • Exports contributed higher to the SI sales in Q1FY23 growing ca. 50% YoY
    • Margins improved significantly with CM% growing ca. 35% YoY and ca. 10% QoQ
laxmi organic Q1FY23 Result Highlights – Market Times

The stocks Laxmi Organic Industries Ltd last hit in BSE,

  • Intraday High of ₹ 331.95
  • Intraday low of ₹ 326.00
Market Times – market news