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Vinati Organics Q1 Review – ATBS Segment Remains The Growth Driver: KRChoksey

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

In Q1 FY23, Vinati Organics Ltd.’s consolidated revenue grew by 31.03% YoY and by 4.16% QoQ to Rs 5,063 million. Overall demand growth was led by acrylamido tertiary-butyl sulfonic acid segment.

Ebitda has seen a growth of 28.79% YoY basis and de growth of 5.67% QoQ to Rs 1,309 million, while Ebitda margins remained flat down 45 basis points YoY and declined by 269 bps QoQ to 25.85% in Q1 FY23.

Vinati Organics’ profit after tax has seen a jump of 24.97% YoY to Rs 1,011 million. The profit after tax margins contracted by 97 bps YoY and 83 bps QoQ to 19.97% in Q1 FY23.

Earning per share in Q1 FY23 came at Rs 9.85 against Rs 9.84 in the same period last year.

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