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DunnChrist
I'm a seasoned industrial engineer with a keen interest in machine learning. Here to share insights on latest industry trends.
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DunnChrist
Release Time:2024-06-12
Meghmani Finechem Q2 FY23 Profit jumps 95%; Revenue up 64%
Meghmani Finechem Limited (MFL), a leading integrated manufacturer of chemicals in India, Q2 FY23 revenue rose 64% to Rs. 556 crore on account of high realizations from Chlor-Alkali and Hydrogen Peroxide. Chlor-Alkali grew by 65% and Derivatives grew by 59%. EBITDA increased 79% to Rs. 180 crore while maintaining EBITDA margin of 32% vs 30% in Q2 FY22. Profit increased 95% to Rs. 92 crore and PAT margin improved by 267 bps for Q2 FY23. Commenting on the results, Maulik Patel, Chairman and Managing Director, MFL said, “We achieved highest-ever revenue in Q2 FY23. The performance of the quarter is on account of high realizations from the majority of our products. H1 FY2023 was an exciting period as we commissioned all our planned expansion projects, namely – India’s first Epichlorohydrin plant, India’s largest CPVC resin plant, and additional capacity of Caustic Soda. Our team is working towards enhancing contribution from these new projects and expects a s...
Detail >
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