Paradeep Phosphates Ltd Share Price – NSE  /  BSE

Fertilizers, Small Cap

Paradeep Phosphates has received revision in credit ratings from ICRA as under:

Long term rating (Rs 4,700 crore) - [ICRA]A; watch with developing implications

Short term rating (Rs 8,000 crore) - [ICRA]A1; watch with developing implications

Commercial paper (Rs 300 crore) - [ICRA]A1; watch with developing implications

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Revenue from operations slipped 41% year on year (YoY) to Rs 2,595.03 crore in the quarter ended 31 December 2023.

Profit before tax stood at Rs 153.51 crore in Q3 FY24, down 36.66% from Rs 242.37 crore posted in same quarter last year.

Total expense dropped 41.12% to Rs 2,450.16 crore in Q3 FY24 over Q3 FY23. Cost of material consumed was at Rs 1,611 crore (down 52.17% YoY) while employee benefit expense stood at Rs 55.86 crore (down 3.08% YoY), finance cost was at Rs 82.46 crore (down 5.6% YoY).

On nine-month basis, the company’s consolidated net profit tanked 73.35% to Rs 78.41 crore on 3.57% decrease in revenue from operations to Rs 9,332.38 crore in 9M FY24 over 9M FY23.

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.

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Net profit of Paradeep Phosphates declined 39.60% to Rs 108.92 crore in the quarter ended December 2023 as against Rs 180.33 crore during the previous quarter ended December 2022. Sales declined 41.00% to Rs 2595.03 crore in the quarter ended December 2023 as against Rs 4398.43 crore during the previous quarter ended December 2022.

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Net profit of Paradeep Phosphates declined 39.76% to Rs 108.92 crore in the quarter ended December 2023 as against Rs 180.82 crore during the previous quarter ended December 2022. Sales declined 41.00% to Rs 2595.03 crore in the quarter ended December 2023 as against Rs 4398.43 crore during the previous quarter ended December 2022.

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