Hot Pursuit     25-Apr-23
Meghmani Finechem slumps after Q4 PAT drop 23% YoY
Meghmani Finechem tumbled 4.99% to Rs 992.80 after the company's consolidated net profit declined 23% to Rs 76.73 crore in Q4 FY23 from Rs 99.18 crore in Q4 FY22.

Revenue from operations increased by 13% YoY to Rs 562.17 crore in the fourth quarter.

Total expenses increased by 28% YoY to Rs 456.63 crore during the period under review, due to higher raw material costs (up 53% YoY), higher depreciation and amortisation expense (up 43% YoY) and higher finance costs (up 61% YoY).

Profit before tax in Q4 FY23 stood at Rs 110.06 crore, down by 24% from Rs 144.19 crore in Q4 FY22.

The company's consolidated net profit increased by 40% to Rs 353.29 crore on a 41% rise in revenue from operations to Rs 2,188.39 crore in FY23 over FY22.

Meghmani Finechem (MFL) is an integrated manufacturer of chemicals in India. The company is India's 4th largest manufacturer of caustic soda, chlorine and hydrogen and a leading manufacturer of caustic potash, chloromethanes and hydrogen peroxide. MFL is further expanding into chlorotoluene & its value chain to strengthen its position in specialty chemical segment.

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