Company Update : Vinati Organics Ltd By Motilal Oswal Financial Services Ltd
EBITDA in line; PAT miss due to lower-than-expected OI
* 3QFY25 revenue stood at INR5.2b (est. of INR5.6b, +16% YoY). EBITDA came in at INR1.4b (est. of INR1.4b, +24% YoY). Gross margin was at 49% (+180bp YoY), with EBITDAM at 27.4% (+180bp YoY). PAT came in at INR956m (est. of INR1b, +24% YoY).
* The board has approved the incorporation/establishment of a wholly owned subsidiary of VO in the US to expand its business operations offshores.
* The subsidiary will primarily handle the manufacturing and sale of VO’s products, and in future, this entity will help to explore other opportunities in the US market.
* In 9MFY25, revenue stood at INR16b (+19% YoY), EBITDA came in at INR4b (+26% YoY), and PAT was at INR2.9b (+31% YoY). EBITDAM was at 25.1% (+140bp YoY).
For More Research Reports : Click Here
For More Motilal Oswal Securities Ltd Disclaimer
http://www.motilaloswal.com/MOSLdisclaimer/disclaimer.html
SEBI Registration number is INH000000412
