Meghmani Organics Ltd: Robust Q3 FY 2018-19 Results


Meghmani Organics Ltd, an Indian organization engaged in the business of pesticides and other pigment products has declared its Q3 FY 2018-19 numbers today during the market hours! The Company has posted good set of results for the quarter under review.

The Company has posted revenues of INR 552.34 Cr for the period ended 31 December ’18 versus INR 450.43 Cr same quarter last year, registering a jump of 22.65% year-on-year basis. The Company’s QoQ revenues from operations grew by 10.16 percent ( INR 501.40 Cr for July to September ’18 quarter )

The Company has achieved higher revenue growth because of healthy performance across business segment, wherein revenues from pigment products grew by 4.84% YoY (INR 159.87 Cr vs 152.48 Cr), revenues from agrochemicals jumped by 32.66% year-on-year (INR 205.2 Cr vs 154.77 Cr), revenues from basic chemicals grew by 26.95% YoY (INR 192.52 Cr vs 151.65 Cr)

Total expenses of the company for October to December ’18 quarter stood at INR 439.47 Cr versus INR 367.56 Cr YoY.

The Company registered a PAT of INR 79.39 Cr for Q3 Fy 2018-19 as against INR 62.61 Cr same period last year, showing a jump of 26.80 percent YoY. The company’s profit after tax for the Q2 FY 2018-19 stood at INR 61.76 Cr jumped by 28.55 % QoQ

 

Meghmani Organics Ltd

 

Meghmani Organics Ltd is a leading manufacturer of pigment and pesticide products in India and is the recipient of several prestigious awards in recognition of its outstanding business performance.

History: It was 1986, when Gujarat Industries (now Meghmani Organics) was established as a partnership firm in Gujarat, India to manufacture pigments.

High productivity and profitability transformed Gujarat Industries to a joint stock company, under the name of Meghmani Organics Limited, by 1995. Since then Meghmani Organics has diversified its business interests to include a range of pesticides and other pigment products as well.

Products: The product portfolio of Meghmani Organics covers 3 segments;

  • Pigments: The Pigment Products which the company manufacture fall into 3 main categories; (1) Pigments for Plastics, (2) Pigments for Printing Inks, and (3) Pigments for Coatings
  • Agrochemical: Agrochemical (Pesticides) products which the company manufacture fall into 3 main categories; (1) Technical Products, (2) Formulations, and (3) Intermediates
  • New Products: The Company is keen identify a growing demand for high performance pigments due to fundamental shifts in the printing ink and paint sectors. The company will soon start producing water-based pigments. It will target export markets such as Japan by setting the course for the production of Hysol-P based CPC Blue product.

Certification: In 1999, The Company has received ISO 9001-2000 certification for the achievement of quality assurance in production, purchasing, marketing and distribution in relation to Vatva, Panoli and Chharodi Plants.

Stock Price Movement

The stock ended almost 7.45 rupees or 15.39% higher to INR 55.85 on NSE when the market closed on Monday! During the quarter ended 31st December 2018, the share prices of Meghmani Organics Ltd has made a low of INR 52.30 and high of INR 83.50

Meghmani Organics on Technical Charts

The stock prices of Meghmani Organics Ltd is trading 25.55% lower when compared to its 200 EMA (74.85) and trading 3.64% lower when compared to its 50 EMA (57.85)

Average Return

The stock has given -37.25% returns over the past 6 months and -47.80% returns over the last 12 months.

Meghmani Organics current market cap is more than INR 1400 Cr and trading at a PE ratio of 6.66

 

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Disclaimer: The contents and data presented here are just for your information & personal use only. While much effort is made to provide the information, I ( Vishal Dalwadi ) or “Fin Blab” do not guarantee the accuracy, correctness, completeness or reliability of any information or data displayed herein and shall not be held responsible.


 

 

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Vishal Dalwadi

Vishal Dalwadi

Vishal is an MBA (Finance) post-graduate. He is the founder and owner of "FinBlab". His blog aims at providing information and research on Stock market and sectors including Mutual funds, IPOs, Insurance and more.

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