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Agrochemicals company India Pesticides announced FY24 results:
- Total Income was Rs 696 crore
- EBITDA of Rs 102 crore with EBITDA margin of 14.6%
- Net Profit of Rs 60 crore with PAT margin of 8.7%
Commenting on the performance, Anand S. Agarwal, Director, Founder & Promoter said, “FY24 has been a challenging year for our industry, marked by significant headwinds from international markets due to decreased demand and high channel inventory. Additionally, the conflict in the Red Sea region has led to a significant surge in freight expenses and transit time, exerting pressure on both revenue and profitability.
We remain committed to navigating these challenges with a focus on long-term growth and sustainability.
We are pleased to announce the successful commissioning of production from the first block of our subsidiary, a key milestone achieved this quarter. All our capex plans are progressing as planned, and we continue to strategically enhance our R&D capabilities, positioning us for potential yield improvements in the coming years. Additionally, we are realigning our existing plants for better capacity utilization.
During the year, we have implemented strategic changes in our leadership team to better align with our long-term goals and drive future growth.
We are moving ahead with clear vision of growth and are committed to fortifying our leadership in the domestic market, perpetually innovating, and extending our impact on a global scale. Our objectives for FY25 are firmly established, and with your continued support, we advance with unwavering confidence.”
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