Gujarat Fluorochemicals Q4 Results: Profit Falls 70%, But Meets Estimates

Gujarat Fluorochemicals Ltd.'s consolidated net profit declined 70% in the fourth quarter of financial year 2024.

The company's profit fell to Rs 101 crore in the quarter-ended March, according to an exchange filing on Monday. Analysts tracked by Bloomberg had set a consensus estimate of Rs 99 crore.

• Revenue down 23% at Rs 1,133 crore vs Rs 1,471 crore (Bloomberg estimate: Rs 1,073.3 crore).

• Ebitda down 55.5% at Rs 229 crore vs Rs 515 crore (Bloomberg estimate: Rs 232.7 crore).

• Ebitda margin at 20.2% vs 35% (Bloomberg estimate: 21.7%).

• Net profit down 70% at Rs 101 crore vs Rs 332 crore (Bloomberg estimate: Rs 99 crore).

Fluoropolymer

• Revenue from fluoropolymer segment increased 18% quarter-on-quarter, but decreased 11% year-on-year.

• Prices remained stable, however, volume have improved from the previous quarter as guided.

• Destocking phenomena seems to be phasing out and company expects to see continuous growth quarter-on-quarter.

• FY25 will also reflect some of the positive impact of the exit of legacy players, it said.

• Fluoropolymer capacities, which were set-up in FY24, are expected to result in continuous increase in sales with improved utilisation levels.

Fluorochemicals

• Revenue increased 23% quarter-on-quarter, but decreased 37% year-on-year.

• Refrigerant volume have picked up during the quarter; however, prices remain sluggish.

• Both volume and prices for specialty chemicals continue to be sluggish, impacting both revenue and margin.

Bulk Chemicals

• Revenue decreased 1% quarter-on-quarter and 26% year-on-year.

• Plants ran at full capacity during the quarter.

• Caustic soda/MDC prices continue to remain subdued, due to increased supplies on account of excess capacity creation.

Shares of Gujarat Fluorochemicals closed 1.04% higher at Rs 3,618 apiece on the NSE, as compared with a 0.15% decline in the benchmark Nifty 50 on Monday.