Meghmani Organics soars 10 per cent on impressive Q1FY19 numbers

Meghmani Organics reported its results for the quarter ended June 30, 2018 on Wednesday.

The company’s consolidated revenue for the quarter came in at Rs. 476.48 crore, registering 3.3 per cent yoy increase. The increase in revenue from Basic chemicals by 25 per cent offset by decline in revenue from Pigments and Agrochemicals by 4.6 per cent and 7.1 per cent, respectively.

EBITDA for the quarter rose by 36 per cent yoy to Rs. 123.99 crore with a corresponding margin expansion of 624 bps. EBITDA margin for the quarter stood at 26 per cent. The PAT for the quarter came in at Rs. 77.07 crore, yoy increase of 78 per cent.

Meghmani Organics Limited is a manufacturer of pigment and pesticide products. It is one of the largest manufacturers of phthalo cyanide-based pigment with a global market share of 7 per cent in terms of volume.

With the announcement, the stock of Meghmani Organics jumped by 10 per cent and made an intraday high of Rs. 98.85 on the BSE.