Alkyl Amines Q3 Results Review - Market Share Sacrificed For Better Margin: Motilal Oswal

Motilal Oswal Report

Alkyl Amines Chemicals Ltd.'s Q3 FY24 revenue declined 17% YoY, in line with our expectation, primarily due to pricing pressure from Chinese suppliers. Gross margin contracted to 47.6 % in Q3. Ebitda was higher than our estimate at Rs 596 million, driven by lower-than-anticipated expenses. This resulted in Ebitdam of 18.5%.

Alkyl Amines Chemicals pushed for better margin in some of the products, which improved its profit after tax to Rs 334 million versus our estimate of Rs 267 million.

The management highlighted that the market condition was in general weak during the quarter, with a decent demand from the pharma sector but poor demand from the agrochemical industry.

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