Meghmani Finechem shines on NSE listing and positive results

Yogesh Supekar
/ Categories: Trending, Mindshare
Meghmani Finechem shines on NSE listing and positive results

Meghmani Finechem Limited made a stellar debut on stock exchanges on 18th August, as the stock got listed at ₹ 406.45 on NSE, a 194 % premium to its opening price of ₹ 138.25 (Closing price of its parent company, Meghmani Organics Ltd, on 17th May, 2021). On BSE, the script got listed at ₹ 405.65, up 194%.The shareholders of Meghmani Organics Ltd (Face value ₹ Rs. 1 per share) were allotted shares of MFL (Face value of ₹ 10 per share) in the ratio of 1000:94. Considering the face value of both the companies at same price, ratio comes to 94 shares of MFL against 100 shares of MOL.

In addition to the listing, the company has delivered a strong operating and financial performance in Q1FY22 amidst the second wave of the pandemic. The key performance highlights are:

Q1FY22 OPERATIONAL HIGHLIGHTS:

1. Capacity utilization across all the division is highest ever

2.  On YoY, ECU realisation for Caustic Soda improved by 12% and CMS sales realisation improved by 40%.

3.  H2O2 sales realisation improved by 36% QoQ

4.  Achieved 75% capacity utilisation of Hydrogen Peroxide in the 2nd year of operations.

FINANCIAL HIGHLIGHTS:

1.   Revenues 111% higher YoY at ₹ 290 Cr, driven by higher sales of Chlor-Alkali (up 92%) and its Derivatives (up 170%)

2.   On YoY basis, EBITDA margin increased by 190 bps to 31.9%; absolute EBITDA increased by 124% at ₹ 92 Cr in Q1FY22.

3.   On YoY basis, PAT increased by 107% to ₹ 37 Cr and PAT margin maintained at 12.7%

4.   Derivative (CMS and H2O2) segment contributed 32% to revenue from operations in Q1FY22 compared to 25% in Q1FY21

5.   In Q1FY22, ROCE% improved to 22.3% and ROE improved to 24.8%

About Meghmani Finechem Ltd

Meghmani Finechem Limited (“MFL”), incorporated in 2007, is a leading manufacturer of Chlor-Alkali products and value-added Derivatives. The company has state of the art manufacturing facilities in Gujarat, Dahej – a leading PCPIR region in the country. MFL’s Dahej facility is a fully integrated complex with a well-established infrastructure and Captive Power Plants. 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. The company was a subsidiary of the listed entity Meghmani Organics Ltd and is recently listed as an independent entity.

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