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Motilal Oswal Report
Atul Ltd. reported in-line revenue in Q4 FY24. Revenue in the life science chemicals segment declined 8% YoY, while it increased 5% YoY in the performance and other chemicals segment. Gross margin came in at 49.7% (plus 390 bp YoY), while Ebitdam contracted 30 basis points YoY to 12.2% during the quarter. Profit after tax declined 36% YoY to Rs 588 million in Q4 FY24.
Management of Atul highlighted that there was pricing pressure, although volumes have improved in some of the businesses that have done well throughout FY24.
A couple of subsidiaries have suffered losses at the profit before tax level, which has led to a decline in earnings of the consolidated entity.
Volume growth was driven by consumption, and management is confident of achieving higher volume growth in FY25.
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