Agrochemicals company Astec Lifesciences announced Q4FY24 & FY24 results:
Q4FY24 Financial Highlights:
- The Company reported consolidated total income of Rs 155.8 crore in Q4FY24 as compared to Rs 129.5 crore in Q4FY23
- The Company reported consolidated EBITDA of Rs 14.8 crore in Q4FY24 as compared to Rs8.0 crore in the same period last year
FY24 Financial Highlights:
- The Company reported consolidated total income of Rs 463.8 crore in FY24 as compared to Rs 641.2 crore in FY23
- The Company reported consolidated EBITDA loss of Rs 0.3 crore in FY24 as compared to profit
- of Rs 89.3 crore in the same period last year
Commenting on the performance, N B Godrej, Chairman, Astec LifeSciences Limited, said:" Astec witnessed a slowdown in its enterprise products portfolio in both domestic as well as global markets.
Contract manufacturing (CMO) along with new products development performance, however, was in line with our expectations. Revenues from this segment grew 57% in the quarter due to new product development.
During the quarter, Astec maintained a steady focus on new product development along with strategic commitment to long-term R&D projects."