Kanoria Chemicals & Industries Limited (KCI), India’s leading manufacturer of chemical intermediates, registered good performance for the first quarter ended June 30, 2008. KCI reported Sales Revenue of Rs 126 crore for Q1FY09. EBIDTA for the quarter stood at Rs 32.60 crore as against Rs 20.09 crore in Q1FY08, registering a growth of 62%. For Q1FY09, the EBITDA margin stood at 26% as against 19% in the corresponding quarter last fiscal. The Basic EPS was recorded at Rs 1.01.

The Net Profit for Q1FY09 was Rs 5.68 crore. Pursuant to the requirement of the Accounting Standard 11, the company is required to account for gain/loss arising from changes in foreign exchange rates. Accordingly, the Company made a provision for uncrystallised loss of Rs. 6.24 crores during the quarter as against unrealized gain of Rs. 6.74 crores in the corresponding quarter of the previous year on various FCCBs related transactions. The Net Profit almost trebled excluding the impact of these uncrystallised loss/unrealized gain.

Commenting on the strong numbers posted for Q1FY09, Mr. R.V. Kanoria, CMD, Kanoria Chemicals & Industries Limited said, “Our strategies coupled with efficient execution have helped us sustain our growth momentum. The expansion in our Caustic Soda production capacities has begun to show results and we look forward to leveraging this to meet the growing demand.”

Operational highlights

Along with increase in capacity for Caustic Soda, KCI has also expanded capacities for downstream Chlorine derivative products. The company recently commissioned Chlorinated Paraffin project with an installed capacity of 11,500 TPA.

Tags: calls, daytrading, free calls, intraday, tips

Similar Posts:

• Kanoria Chemicals net profit up by 56% for Rs 31cr
• Kanoria Chemicals commissions 2nd Caustic Soda plant
• Supreme Petrochem net profit for 07-08 at Rs 22.57cr
• Grasim cons net profit at Rs 722cr up 29%
• Supreme Industries Q2 net sales at Rs 288cr