Tarsons Products tumbles after weak Q2 performance

Tarsons Products slumped 5.35% to Rs 734.90 after the company reported 13.8% fall in net profit to Rs 21.5 crore on a 6.3% decline in revenue from operations to Rs 71.2 crore in Q2 FY23 over Q2 FY22.

Cost of goods sold was Rs 16.6 crore (up 14.4% YoY), employee cost was Rs 54.7 crore (up 8.3% YoY) and Other expenses amounted to Rs 13.2 crore (up 14.9% YoY) in the second quarter.

While EBITDA declined by 15% to Rs 32.7 crore, EBITDA margin deteriorated by 470 bps to 45.9% in the Q2 FY23 as compared with same period last year.

Profit before tax in Q2 FY23 stood at Rs 28.8 crore, down by 14.2% from Rs 33.5 crore in Q2 FY22.

Rohan Sehgal, whole time director, Tarsons Products, said: Our capacity expansion is on track and the commissioning of the upcoming facility is expected to be in H1 FY24.

Our strategy is to be present in all business segments of the life science industry, gain a significant share of the Indian market, and strengthen our presence in the export markets.

Tarsons Products is engaged in manufacturing and selling of plastic laboratory products and certain scientific instruments. The company caters to both domestic and international markets.

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