Ami Organics reports decent Q2 numbers

On consolidated basis, Ami Organics reported 9% rise in net profit to Rs 19.04 crore on 20.2% increase in revenue from operation to Rs 146.99 crore in Q2 FY23 over Q2 FY22.

Profit before tax increased by 14.2% year on year to Rs 25.71 crore in the quarter ended 30 September 2022.

EBITDA for Q2 FY23 stood at Rs 28.1 crore, up 2.8% YoY. EBITDA margin declined to 19.1% in Q2 FY23 as compared to 22.4% in Q2 FY22, mainly due to lower EBITDA margins of the Specialty Chemical business.

Naresh patel, executive chairman and managing director, Ami organics said that We have successfully developed Methyl Salicylate using flow technology which is expected to commercialize from Q3 onwards. This shift in manufacturing technology has resulted in a considerable reduction in production time, 3x capacity expansion, and cost savings of around 5-7%.

Electrolyte additives continue to see good inquiries from clients across the globe and we expect to commercialize the product before the end of FY23. Overall, I remain optimistic about our business growth in the coming quarters and years on the back of various strong growth levers.

Ami Organics is a research and development driven specialty chemicals manufacturer with varied end usage, focused on the development and manufacturing of advanced pharmaceutical intermediates.

The scrip declined 0.98% to currently trade at Rs 972 on the BSE.

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