Panama Petrochem (PANAMAPET) — concall transcript

📢 Key Event
Q2 FY24 revenue grew 8.2% sequentially to INR578 crores with EBITDA of INR65 crores and net profit of INR46.9 crores.

🔄 What Changed
Operating EBITDA rose to INR65 crores from INR63.5 crores; net profit declined to INR46.9 crores from INR48.5 crores; exports grew 25%; new capacity of 30,000 tons commissioned; value-added products now 68% of revenue.

🔮 What's Next
EBITDA margins to sustain at 11%-13%; value-added product share to reach 85% in 3-5 years; 15,000 tons capacity additions in UAE and Taloja plants underway; 10%-15% volume growth expected.

💡 Investor Takeaway
The company is leveraging export growth and specialty product expansion to protect margins despite commodity price volatility, with disciplined capex and cash deployment focused on growth and shareholder returns.

Panama Petrochem reported Q2 FY24 revenue of INR578 crores, up 8.2% sequentially, with operating EBITDA at INR65 crores and net profit of INR46.9 crores. Management highlighted 25% export growth, 30,000 tons capacity expansion completed, and plans to add 15,000 tons each in UAE and Taloja plants. Value-added products now contribute 68% of revenue, targeting 85% by 2025-26. EBITDA margins are guided at 11%-13%, with specialty segments sustaining 13%-15% margins. Capex remains focused on expansion, with no new capacity planned this year. Cash will fund growth, dividends, and working capital. The company sees stable domestic demand and no new import competition in specialty segments.

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About Panama Petrochem Ltd (PANAMAPET)

Chemicals · Petrochemicals · Listed on BSE

Market Cap: ₹2,960.56 Cr P/E: 6.2 ROE: 32.6% ROCE: 39.3% Div Yield: 0.61%

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🔥 Also filed on 30 September 2023

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