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.
Gujarat Fluorochemicals Q4 Highlights (Consolidated, YoY)
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).
Business Verticals
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.
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