Meghmani Finechem’s Revenue Increases By 91% In Q3’22

Overall plant utilization is at 86% for 9MFY22 which is up by 8% on a YoY basis H2O2 production capacity increased by 190% for 9MFY22 on YoY, plant capacity ramped up to 76% In Q3FY22, caustic soda ECU realization up by 145% YoY; caustic potash up by 60% on a YoY basis In Q3FY22, CMS sales realization up by 106% on YoY basis; hydrogen peroxide up by 25% on YoY basis Q3FY22.

Revenue up by 91% to Rs 422 crore backed by an increase in revenue of ChlorAlkali and Derivatives by 104% and 59% respectively EBITDA increased by 107% to Rs 141 crore and EBITDA margin was up by 260 bps to 33.5%, despite high inflationary pressure on raw materials PAT increased by 184% to Rs 70 crore and PAT margin was up by 540 bps to 16.5%.

Crisil upgraded credit rating from A+/Positive to AA-/Stable Expansion projects on track for completion as per schedule: ECH – 90%, CPVC Resin – 80% and Caustic Soda – 80% In 9MFY22, the company spent Rs 365 crore for expansion of all three projects.

The company is expanding into Chlorotoluene and its value chain; establishing the R&D facility Commenting on the results, Maulik Patel, Chairman, and Managing Director – MFL, said: “We are glad to report a good performance during the quarter. We have achieved the highest ever topline for nine months of Rs 1,052 crore. The commissioning and optimal utilization of CMS & H2O2 drove our revenue and profit growth. The investments undertaken in the last couple of years for diversification of products continue to drive growth and increase our competitiveness.”