Panama Petrochem Ltd Share Price – NSE  / BSE

Petrochemicals, Small Cap

Panama Petrochem announced that the Board of Directors of the Company at its meeting held on 12 November 2024, inter alia, have recommended the interim dividend of Rs 2 per equity Share (i.e. 100%) , subject to the approval of the shareholders.

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Net profit of Panama Petrochem declined 6.03% to Rs 44.09 crore in the quarter ended September 2024 as against Rs 46.92 crore during the previous quarter ended September 2023. Sales rose 21.67% to Rs 698.91 crore in the quarter ended September 2024 as against Rs 574.41 crore during the previous quarter ended September 2023.

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Revenue from operations was at Rs 698.91 crore in the second quarter of FY25, marking a growth of 21.67% as against Rs 574.41 crore posted in corresponding quarter previous fiscal.

Profit before tax came in at Rs 52.55 crore in Q2 FY25, down 9.95% from Rs 58.36 crore posted in the corresponding quarter previous year.

Total expenses tumbled 26.04% year on year to Rs 8.46 crore during the quarter. Cost of material consumed was at Rs 545.19 crore (up 13.30% YoY) in Q2 FY25.

On half year basis, the consolidated net profit rose 1.56% to Rs 94.26 crore on 24.07% rise in revenue to Rs 1,369.69 crore in H1 FY25 over H1 FY24.

Meanwhile, the company’s board has announced a payment of interim dividend of Rs 2 per share for the financial year ending 31 March 2025. The record date for the purpose of determining the entitlement of the shareholders for interim dividend has been fixed on 22 November 2024, and the dividend will be paid to the shareholders on 29 November 2024.

Panama Petrochem is engaged in the business of manufacturing of petroleum derivative products which find application in industries such as cosmetics & pharmaceuticals, inks/coatings, textiles, automo bile, power, engineering, and rubber. The product portfolio includes liquid paraffin oils, petroleum jelly, ink oils, antistatic coning oil, rubber process oils, transformer oils, cable filling compounds and paraffin wax.

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Panama Petrochem will hold a meeting of the Board of Directors of the Company on 12 November 2024.

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