Kothari Petrochemicals Q1 Results Revenue Down 13.74% QoQ but Up 2.60% YoY

Kothari Petrochemicals Q1 Results: Kothari Petrochemicals' Q1 results for June 2024 show various financial changes compared to the previous quarter and the same quarter last year. The company's total revenue was 144.86 crores, which is a slight decrease of 2.59% year-over-year (YoY) from 148.72 crores in June 2023. 

Kothari Petrochemicals increased by 13.74% quarter-on-quarter (QoQ) from 136.90 crores in March 2024. The selling, general, and administrative expenses rose by 12.10% QoQ but fell slightly by 0.28% YoY. Depreciation and amortization costs went up by 14.36% YoY and 3.76% QoQ. Other operating expenses increased by 41.14% YoY but decreased by 10.13% QoQ.

Kothari Petrochemicals’ despite these mixed results, the total operating expenses remained almost the same year-over-year, showing a slight increase of 0.17%. The operating income fell by 19.79% YoY and 31.47% QoQ. On the positive side, the net income increased significantly by 23.65% YoY and 27.54% QoQ. 

Kothari Petrochemicals diluted normalized EPS also improved, rising by 23.68% YoY and 25.55% QoQ. Overall, the company saw some positive changes YoY, especially in net income and EPS, even though operating income and expenses showed mixed results.

Here's a summary of Kothari Petrochemicals' Q1 results for June 2024:

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Kothari Petrochemicals Q1 Results 

Kothari Petrochemicals' financial results for the quarter ending June 30, 2024, show several key figures. The company's total revenue from operations was ₹14,486.34 lakhs, with additional income bringing the total income to ₹14,860.01 lakhs. The company's main expenses included costs for materials, purchases, inventory changes, utilities, employee salaries, and other costs, totaling ₹12,861.86 lakhs. After subtracting these expenses from the total income, the company made a profit of ₹1,998.15 lakhs before accounting for any exceptional items. There were no exceptional items this quarter.

Kothari Petrochemicals’ profit before tax was also ₹1,998.15 lakhs. After paying taxes, which totaled ₹62.00 lakhs, the profit from continuing operations was ₹1,936.15 lakhs. There was a loss of ₹43.87 lakhs from discontinued operations, but after accounting for taxes related to these, the net loss from discontinued operations was ₹32.83 lakhs. 

Adding the profit from continuing operations and the loss from discontinued operations, the total profit for the quarter was ₹1,903.32 lakhs. The company reported earnings of ₹3.29 per share for both basic and diluted calculations. This result shows a strong performance despite some losses from discontinued operations.

Here’s a simplified overview of the unaudited financial results for Kothari Petrochemicals for the quarter ended 30th June 2024:

Kothari Petrochemicals Financial Metrics

The Kothari Petrochemicals table shows various financial details about the company. The Market Cap of ₹1,497 Crores indicates the total value of all its shares. The Current Price of ₹254 is the price at which one share is traded right now. The High / Low values of ₹267 and ₹108 show the highest and lowest prices the shares have reached in a certain period. The Stock P/E ratio of 22.1 helps assess if the stock is priced fairly compared to its earnings. The Book Value of ₹41.9 is the value per share if the company’s assets were liquidated. 

Here’s the financial data for Venkys India in a table format:

Quarterly Results 

Kothari Petrochemicals' financial performance for the last three quarters: In Dec 2023, the company had sales of ₹125 crores, which increased to ₹168 crores by Mar 2024, but then fell to ₹145 crores by Jun 2024. Expenses followed a similar trend, rising to ₹142 crores in Mar 2024 but decreasing to ₹126 crores in Jun 2024. Operating profit was highest in Mar 2024 at ₹26 crores but dropped to ₹18 crores in Jun 2024. 

Here’s the transposed table for Kothari Petrochemicals for the quarters Dec 2023, Mar 2024, and Jun 2024:

About Kothari Petrochemicals  

Kothari Petrochemicals is a major part of the HC Kothari Group and has been a leader in producing high-quality Polyisobutylene (PIB) in India since 1990. They make different types of PIB, a versatile polymer used in many industries. Their products are important in areas like lubricants, fuel additives, greases, adhesives, sealants, rubber manufacturing, personal care items, masterbatch compounding, and PVC pipes and fittings.

Kothari Petrochemicals aims to be a global leader in supplying PIB by focusing on meeting customer needs and adapting to changing market conditions. They are committed to sustainability and reducing their environmental impact. The company's mission is to use their plant's full capacity, explore new markets, and innovate with new product applications. They prioritize high ethical standards and clean business practices, emphasizing product quality and customer satisfaction.

Kothari Petrochemicals operates with a strong focus on customer needs, ensuring reliable supply and transparent operations. They value their team, encouraging open communication and respect, and are dedicated to health, safety, and environmental standards. With offices in Chennai, Manali, and Mumbai, Kothari Petrochemicals serves customers in 20 countries around the world.