Clean Science & Technology Q2 Results: Profit Falls 23%, Misses Estimate

The company's net profit fell 23% year-on-year to Rs 52.2 crore in the quarter ended Septe,ber.

<div class="paragraphs"><p>Close-up of a technician using pipette testing a chemical solution in a R&amp;D laboratory. (Source: Freepik)</p></div>
Close-up of a technician using pipette testing a chemical solution in a R&D laboratory. (Source: Freepik)

Clean Science and Technology Ltd.'s profit fell 23% during the quarter-ended September, according to an exchange filing on Thursday. This compares with a Bloomberg estimate of Rs 61.3 crore.

Clean Science & Technology Q2 FY24 Highlights (Consolidated, YoY)

  • Revenue down 26.8% at Rs 181 crore vs Rs 248 crore (Bloomberg estimate: Rs 190.24 crore).

  • Ebitda down 23.3% at Rs 74.8 crore vs Rs 97.5 crore (Bloomberg estimate: Rs 76.51 crore).

  • Margin at 41.3% vs 39.4% (Bloomberg estimate: 40.20%).

  • Reported profit down 23.2% at Rs 52.2 crore vs Rs 67.9 crore (Bloomberg estimates: Rs 61.32 crore).

Other Highlights

  • Lower realisation impacted the revenue growth.

  • Moderation in raw material prices and improved profit contribution from relatively newer products led to higher Ebitda margin during the quarter.

  • Incurred total capex of ~ Rs 165 crore during H1, including investment in subsidiary of Rs 155 crore.

  • Clean Fino-Chem Ltd. construction work on track, with commercialisation estimated from Q4.

Shares of the chemical manufacturing company advanced 0.99% to Rs 1,358.6 apiece, compared to a rise of 0.65% in the benchmark NSE Nifty 50 at 1:15 p.m. on Thursday.