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Laxmi Organic Industries Q1 Review


BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

KRChoksey Research Report

Laxmi Organic Industries Ltd.’s revenue grew by up 2.8% YY at Rs 7,566 million (down 14.0% QoQ) on account of both acetyl intermediates and specialty intermediates business growth of 33.9% / 10.3% YoY.

However, there was a sequential de-growth across both the segments due to demand pressures across the world.

Ebitda reported at Rs 1,015 million (down 30.1% YoY / up 39.2% QoQ). Ebitda margin stood at 13.4% (down 631 basis points YoY / up 513 bps QoQ); the improvement in margin performance on a sequential basis was mainly on account of lower cost of goods sold, decline in staff and finance costs.

Laxmi Organic’s net Profit de-grew by 36.6% YoY at Rs 649 million (up 12.9% QoQ), net margin reported at 8.6% (down 532 bps YoY / up 204 bps QoQ).

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