Paradeep Phosphates Ltd Share Price – NSE /  BSE

Fertilizers, Small Cap

The key equity indices reversed all losses and traded with minor gains in mid-afternoon trade. The Nifty traded above the 24,400 level. PSU Bank shares extended gains for the two trading session.

At 14:30 IST, the barometer index, the S&P BSE Sensex, was up 240.78 points or 0.30% to 80,245.82. The Nifty 50 index rose 74.90 points or 0.31% to 24,414.05.

In the broader market, the S&P BSE Mid-Cap index rose 0.06% and the S&P BSE Small-Cap index added 0.07%.

The market breadth was negative. On the BSE, 1,865 shares rose and 1,920 shares fell. A total of 124 shares were unchanged.

Economy:

According to the monthly report by the finance ministry, the outlook for the Indian economy is good, underpinned by a stable external sector, positive agricultural outlook, expected improvements in demand supported by the festive season, and the likelihood of an increase in Government spending, which will boost investment activity. However, at the margin, demand conditions in the economy bear watching. Given the overall subdued inflation, barring a few food items, the real price of money may have gone up.

The finance ministry maintains that the Indian economy will grow between 6.5% and 7.0% in the current fiscal year. However, risks stem from global factors such as geopolitical conflicts, rising geo-economic fragmentation, uncertainties about the trade policies of major economies and consequent financial market reactions, the report noted.

Buzzing Index:

The Nifty PSU Bank index rose 2.55% to 6,687.70. The index added 6.42% in the two trading sessions.

Indian Bank (up 4.95%), State Bank of India (up 3.52%), Bank of Maharashtra (up 2.89%), Punjab & Sind Bank (up 2.2%), Indian Overseas Bank (up 2.17%), Canara Bank (up 1.85%), Bank of India (up 1.57%), Central Bank of India (up 1.45%), Union Bank of India (up 1.36%) and Bank of Baroda (up 1.33%) edged higher.

Numbers to Track:

The yield on India's 10-year benchmark federal paper advanced 1.59% to 6.971 as compared with previous close 6.982.

In the foreign exchange market, the rupee remained flat against the dollar. The partially convertible rupee was hovering at 84.0775, compared with its close of 84.0775 during the previous trading session.

MCX Gold futures for 5 December 2024 settlement rose 0.28% to Rs 78,785.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, was down 0.01% to 104.31.

The United States 10-year bond yield gained 0.54% to 4.305.

In the commodities market, Brent crude for November 2024 settlement added 18 cents or 0.25% to $71.60 a barrel.

Stocks in spotlight:

Paradeep Phosphates rallied 6.15% after the company's consolidated net profit surged 154.53% to Rs 227.63 crore on 4.37% rise in revenue from operations to Rs 3,843.84 crore in Q2 FY25 over Q2 FY24.

RailTel Corporation of India shed 0.16%. The company reported standalone net profit of Rs 72.64 crore in Q2 FY25, up 6.58% as against Rs 68.15 crore posted in Q2 FY24. Revenue from operations stood at Rs 843.49 crore in second quarter of FY25, registering a growth of 40.78% year on year.

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Profit before tax stood at Rs 295.97 crore in second quarter of FY25, up 145.88% from Rs 120.37 crore posted in same quarter last year.

Total expense declined 0.3% to Rs 3,562.95 crore in September 2024 quarter. Cost of material consumed was at Rs 2,233.57 crore (up 10.7% YoY) while employee benefit expense stood at Rs 61.49 crore (up 6.37% YoY), finance cost was at Rs 81.87 crore (down 14.67% YoY).

EBITDA for Q2 of FY25 stood at Rs 440 crore, registering an increase of 65% on YoY basis.

Total production volumes stood at 693,311 MT, reflecting a 5% YoY increase. Total sales volumes of finished fertilizers reached 865,286 MT, marking 18% YoY increase.

On half yearly basis, the company reported consolidated net profit of Rs 233.01 crore in H1 FY25 as against net loss of Rs 30.51 crore in H1 FY24. Revenue from operations declined 7.66% YoY to Rs 6,221.27 crore in the half year ended September 2024.

Meanwhile, the company’s board approved brownfield expansion of the Phosphoric Acid Plant-II Project, alongside the installation of the evaporator and the transition from wet to dry gypsum, at a total estimated capex of Rs 250 crore.

Paradeep Phosphates is primarily engaged in the manufacture of Urea, Di-Ammonium Phosphate (DAP), Complex Fertilizers of NPK grades, and Zypmite (Gypsum based product) having its manufacturing facilities at the port town of Paradeep, District Jagatsinghpur, Odisha and at Zuari Nagar, Goa. The Company is also involved in trading of fertilizers, ammonia, neutralized phospo gypsum, micronutrient and other materials. The Company caters to the demands of farmers all over the country through its “Navratna” brand of fertilizers.

The scrip hit an all time high of Rs 99 in today’s intraday session.

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Net profit of Paradeep Phosphates rose 154.34% to Rs 227.46 crore in the quarter ended September 2024 as against Rs 89.43 crore during the previous quarter ended September 2023. Sales rose 4.37% to Rs 3843.84 crore in the quarter ended September 2024 as against Rs 3683.02 crore during the previous quarter ended September 2023.

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Paradeep Phosphates will hold a meeting of the Board of Directors of the Company on 28 October 2024.

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