Heranba Industries Limited reports Q4 & FY24 results: Revenues at ₹1,274.75 Crore during FY24

Date:05-29-2024

Heranba Industries Ltd. (BSE: 543266, NSE: HERANBA, ISIN: INE694N01015), one of India’s leading Agrochemical company has announced its financial results for fourth quarter and year ended March 31^st, 2024.

Financial Snapshot:

Financial Highlights for the Year Ended March 31st, 2024:

• Revenue from Operations stood at ₹1,274.75 Crores in FY24 as compared to ₹1,324.40 Crores in FY23.

• EBITDA stood at ₹126.99 Crores during the year with EBITDA margin at 9.96% in FY24.

• Profit After Tax stood at ₹66.35 Croresin FY24 as compared to ₹110.10 Crores in FY23.

Mr. Raghuram K. Shetty, Managing Director of Heranba Industries Limited, commented, ″The Company’s FY24 revenues stood at ₹1,274.75 Crores restricted by unfavourable global economic scenario, inventory build-up in the system and sluggish demand from key export regions. However, we have witnessed decent traction for our formulation products in both domestic and export markets. The EBITDA margins remained muted during FY24 due to lower price realization in export markets and falling prices in finished goods. Despite of a challenging year, Heranba’s Balance Sheet continues to remain strong.

We are dedicated to accelerating revenue growth and productivity efforts in order to achieve significant margin expansion and we continue to view FY25 as a crucial acceleration point in Heranba’s Trajectory.

The Company continues to strengthen its product portfolio with new product registrations in both domestic & export markets and leverage its distribution network for delivering growth in the coming years.″