Meghmani agchem sales up 23% in Q3 FY 2014

Date:02-20-2014

Indian company Meghmani Organics agrochemical sales posted a 23.2% rise to Rs 922.4 million in third quarter of FY 2014 ended Dec 31, 2013. The growth resulted from export sales with an increase of 25.8% to Rs. 686.4 million, representing 74.4% of total sales. Domestic sales increased by 16.5% to Rs. 236.0 million.

Gross profit for this quarter boosted by 15.7% to Rs. 144.8 million, with the margin going up from 3.3% to 15.7%, due to higher quantity sales of CPP,MPB, CMAC and Cypermethrin.
 
Nine-month agrochemical sales grew by 15.5% to Rs 2,958.1 million. The increase mainly came from exports sales, rising 21.7% to Rs 2154.2 million with making up around 73% of total sales. Domestic sales boosted 12.9% to Rs. 803.8 million. Gross profit improved 36.3% to Rs 361.2 million, with the margin growing from 10.4% to 12.2%.