📉 Fairchem Organics Q3 Results: Kya Chal Raha Hai?
Ab yeh itna bura performance kyun raha? Toh bhai, company khud keh rahi hai ki market mein bahari competition bahut hai, especially China se jo suppliers hai na, woh log saste maal bech rahe hain. India mein import duty 16.5% hai, par unke liye sirf 7.5% hai. Isliye unka maal sasta padta hai. Upar se, raw material ke prices bhi badhe hue hain, aur paint industry se bhi demand kam ho gayi. US mein export band hone se bhi nuksan hua.
Is sab ka asar revenue par dikha, jo YoY 12% gir gaya aur ₹100 crore par aa gaya, jabki analysts ₹106 crore expect kar rahe the. Aur pure 9 mahine ka revenue dekho toh ₹343 crore hai, jo 18% kam hai pichle saal se.
Profit toh aur bhi bura haal raha. Adjusted PAT sirf ₹60 lakhs aaya, jabki expectations ₹4.2 crore ki thi. EBITDA margins bhi 4.2% par aa gaye Q3 mein, aur 9 mahine mein toh 3.97% ho gaye. Yaani, paisa banane mein kaafi mushkil ho rahi hai company ko.
Ek exceptional item bhi tha ₹88 lakhs ka, jo Labour Code ki wajah se hua. Toh reported profit aur bhi kam ho sakta hai.
Aage Kya Hoga? Management Kya Bol Rahi Hai?
Management keh rahi hai ki 'sabse bura waqt ab peeche chhoot gaya hai'. Ab woh log export pe dhyan de rahe hain, US market mein pichle 6 mahine mein phir se business shuru karna hai issteric acid aur dimer fatty acid ka. Target hai ki export 50% turnover ka ho jaye.
Cost kam karne ke liye bhi steps utha rahe hain, jaise energy audit aur domestic catalysts explore karna. Aur ek naya animal feed product plant bhi ready hai, jo Q3 FY27 tak launch ho sakta hai.
Magar future ke liye koi specific numbers nahi diye hain. Bas keh rahe hain ki 'purane acche din wapas aayenge'. Lekin ek achhi baat yeh hai ki capacity utilization abhi 55% hai, matlab bina naye investment ke business double kar sakte hain. Aur promoter holding badhane ke liye buyback bhi approve kiya hai.
Tocopherol business se US mein pichle do quarter se koi revenue nahi aa raha, yeh bhi ek badi chinta ki sabaab hai. Toh dekhte hain, export revival aur naye products kaise perform karte hain.