Meghmani Finechem Ltd (MFL) Q4FY22 and Year Ended result : Net long-term debt increased to ₹23 Cr, PAT up 202.44% YoY

Net long-term debt increased by ₹ 23

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Meghmani Finechem Limited (MFL) operates as a chemical manufacturing company. The Company provides caustic soda, caustic potash, chlorine, hydrogen, chloromethanes, and hydrogen peroxide, worldwide. MFL posted its Q4FY22 and year ended financial results today, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹500.76 crore in the quarter ended on March 31, 2022 as against ₹258.52 crore in the corresponding quarter ended last year on Mar 31, 2021, increased by 93.70%.

The company has posted a consolidated Net Profit of ₹99.08 crore in the quarter ended on March 31, 2022 as against ₹32.76 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges up by 202.44%.

The status of the EPS of the company stood at ₹23.85 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹5.61, up by 325.13%.

₹*Mar 31, 2022Dec 31, 21Mar 31, 21
Total Income500.76421.87258.52
Total Expenses356.56312.97203.59
PBT /(Loss)144.19108.8954.92
Total Tax /(credit)45.139.1522.15
PAT /(Loss)99.0869.7332.76
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹1,555.05 crore in the financial year ended on March 31, 2022 as against ₹830.78 crore for the financial year ended on Mar 31, 2021, increased by 87.17%.

The company has posted a consolidated Net Profit of ₹252.78 crore in the financial year ended on March 31, 2022 as against ₹100.83 crore for the financial year ended on March 31, 2021. The PAT surges up by 150.7%.

The status of the EPS of the company stood at ₹60.84 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹17.26, up by 252.49%.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income1,555.05830.78
Total Expenses1171.62669.93
PBT /(Loss)383.42160.85
Total Tax /(credit)130.6360.01
PAT /(Loss)252.78100.83
*figures are in Crores

(III) Key Highlights about the Performance :

  • Operational Highlights for FY22:
  • Overall plant utilisation increased to 87% in FY22 compared to 81% in FY21
  • Hydrogen Peroxide (H2O2) achieved capacity utilization of 78% in FY22 , up 21% on a YoY basis
  • Caustic Soda & Caustic Potash ECU realisation is up 74% & 27% respectively
  • CMS & H2O2 sales realisation is up 53% and 20% respectively
  • Operational Highlights for Q4FY22 :
  • Overall plant utilization was marginally up 90% compared to 89% in the corresponding prior period
  • Caustic soda ECU realization is up 112% YoY; Caustic Potash is up 73% on a YoY basis.
  • CMS & Hydrogen Peroxide sales realization is up 26% & 16% respectively on a YoY basis
  • Hydrogen Peroxide utilization grew significantly to 86% from 74% corresponding prior period

Financial Highlights:

  • Revenue up 93% to ₹ 499 Cr on account of higher realizations across product categories
  • EBITDA increased 118% to ₹ 175 Cr; EBIDTA margin improved by 405 bps to 35% despite high inflationary pressure
  • PAT tripled to ₹ 99 Cr from ₹33 Cr in Q4FY21; PAT margin was up 712 bps to 20%
  • For FY22 EBITDA grew 95% to ₹ 509 Cr in line with the growth in revenue
  • EBITDA margin improved to 33% (FY22) from 32% (FY21) on account of volume growth and cost control measures
  • For Q4FY22 on YoY basis EBITDA grew 118% to ₹ 175 Cr with EBITDA margin of 35% (31% in Q4FY21)
  • Net long-term debt increased by ₹ 239 Cr in FY22
  • The debt maturity profile indicates a strong Free Cash flow
  • More then 40% of our debt have average maturity of more then 4 years
  • Improved realizations across all product segments due to robust demand both domestically and globally
  • ECU realization in Caustic Soda improved by 74% on yearly basis to ₹ 37,062 per ton
  • Sales realization for CMS improved by 53% on yearly basis, all time high
  • oH2O2 sales realization also improved by 20% on yearly basis

The stock of Meghmani Finechem Ltd last hit in BSE,

  • Intraday High of ₹ 1332.00
  • Intraday low of ₹ 1142.40