Trackpad

Stellar Q1 Results Lead to a Rally in these Chemical Stocks 

Tata Chemicals Ltd surged 13.5 per cent at a high of ₹1086.30 as it reported a 110 per cent jump in its PAT in Q1FY23 at ₹612 crore compared to Q1FY22. Net sales grew by 34.15 per cent to ₹3995 crore during the quarter. PAT margins expanded by 555 bps and stood at 15.32 per cent for the quarter. At the time of writing, the shares of Tata Chemicals are trading at ₹1080.45 up 12.88 per cent.

Net Sales grew by 109 per cent at ₹747.74 crore on a YoY basis and PAT trebled to ₹160 crore. Fairchem Organics Ltd is trading up by 12.8 per cent at ₹1805.95. The speciality chemical company announced its Q1 results on August 09, wherein net sales grew by 61.86 per cent at ₹225 crore on a YoY basis while PAT grew by 21.14 per cent at ₹27.03 crore. In the intraday trades, the shares of Fairchem Organics have logged highs and lows of ₹1865.10 and ₹1711, respectively. 

EaseMyTrip Delivers an above Estimated Quarterly Results

It is earnings season right now and the list of companies declaring outstanding results is increasing as we progress. After bigwigs like Sun Pharma and Bajaj Finance declared the above estimate results, also contributing to the BSE Sensex rally, we have EaseMyTrip declare a positive set of results on Friday.

The profit after tax (PAT) doubled by 125 per cent to ₹33.7 crore for EaseMyTrip in Q1FY23. Interestingly EaseMyTrip is catching investors' attention as it is India’s only company delivering consistent profits every quarter among all listed new-age tech businesses. EaseMyTrip is India’s second-largest online travel platform. The company announced Q1FY23 results with a profit jump of 125 per cent to ₹33.7 crore as against a net profit of ₹14.9 crore in the corresponding quarter last year. Further, the Q1FY23 Gross Booking Revenue (GBR) stood at ₹1,663 crore, generating strong and sustainable growth for its stakeholders.

The company saw consistent performance across businesses and witnessed a strong recovery in demand across business segments. The adjusted revenue jumped by 169 per cent YoY to ₹132 crore. The air segment booking was up by 212 per cent and hotel night booking grew by 409 per cent while trains, buses, and others registered a growth of 132 per cent in Q1FY23.

Yasho Industries Reports Strong EBITDA Growth 

The shares of the chemical manufacturer Yasho Industries rallied on BSE after announcing financial results for the June quarter. In just one year, the stock soared more than 200 per cent while in just one month, shareholders have enjoyed gains of 20 per cent. Taking into account the company's financial performance, it reported a growth of 39.90 per cent from ₹134.06 crore registered in Q1FY22, recording total revenue of ₹187.55 crore in Q1FY23. It has reported strong EBITDA growth of 56.79 per cent with an EBITDA margin of 18.67 per cent. Comparing the net profit for the first quarter of FY23 to the same quarter last year, it increased significantly by 88.71 per cent from ₹10.91 crore to ₹20.59 crore. 

Yasho Industries Ltd is a pioneer in the production of fine and speciality chemicals, exporting to countries around the world including the USA, Europe, Asia, the Middle East, and Brazil. The business has an expansive and diverse customer base, which generates more than 60 per cent of its revenue from exports and maintains solid, long-lasting relationships with clients in more than 50 countries. Three of the company's well-equipped manufacturing facilities are located in Vapi (Gujarat). The business wishes to expand capacity at a brand-new greenfield facility in Pakhajan (Gujarat). A Capex of ₹350 crore has been approved by the board for the project's first phase. In the upcoming months, the company anticipates receiving government approval for its environmental clearance.