Financials Q2FY09 18 October 2008

Kanoria Chemicals announces 24.3% higher Net sales for H1FY09 Net Sales for H1FY09 at Rs 260.2 crore and EBIDTA at Rs 63.0 crore Net Sales for Q2FY09 at Rs 134.2 crore and EBIDTA at Rs 32.4 crore
Performance summary
H1 FY 2009 (April - September 2009) v/s H1 FY2008 (April - September 2008)
  • Net Sales improved to Rs 260.2 crore from Rs 209.2 crore.
  • Profit before tax (PBT) stood at Rs 14.1 crore
  • Profit after tax (PAT) at Rs 11.4 crore
  • EPS (for the period): Rs 2.03
Q2 FY2009 (July - September 2009) v/s Q2 FY2008 (July - September 2008)
  • Net Sales improved by 29.6 per cent to Rs 134.2 crore from Rs 103.6 crore.
  • Profit before tax stood at Rs 6.5 crore
  • PAT stood at Rs 5.7 crore
H1 FY 2009 Segment performance
Chloro Chemicals:
Revenue at Rs. 235.9 crore compared to Rs. 189.7 crore in corresponding half year in the previous fiscal
Alco Chemicals:
Revenue at Rs. 84.8 crore compared to Rs. 70.9 crore in corresponding half year in the previous fiscal
Both segments displayed improved profitability during the period
New Delhi, October 18, 2008: Kanoria Chemicals & Industries Limited (KCI), India's leading manufacturer of chemical intermediates reported EBIDTA of Rs 63.03 crore as compared to Rs. 46.49 crore in the corresponding half year in the previous fiscal.

The Net Profit for H1FY09 was Rs 11.42 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. 10.34 crore during the half year as against unrealized gain of Rs. 8.07 crore in the corresponding half year of the previous fiscal on various FCCBs related transactions. The Net Profit increased by 66% excluding the impact of these uncrystallised loss/unrealized gain.

EBIDTA for Q2FY09 stood at Rs 30.43 crore, an increase of 15.3% as compared to Rs 26.40 crore in the same period of last fiscal year. The EPS for the period stood at Rs 1.02.

Commenting on the results, Mr. R.V. Kanoria, CMD, Kanoria Chemicals & Industries Limited said, "In a demanding quarter wherein we faced increasing input and logistics costs, KCI was still able to improve its operating profits. While the near term continues to present similar challenges, I remain confident in the strength of our operations and our robust business model."