Mumbai, January 31, 2025 – Panama Petrochem Limited (BSE: 524820, NSE: PANAMAPET) has announced its unaudited financial results for the quarter and nine months ended December 31, 2024. The company's Board of Directors approved the results in a meeting held today.
Key Financial Highlights (Standalone)
(₹ in Crore)| Particulars | Q3 FY25 (Dec 31, 2024) | Q2 FY25 (Sep 30, 2024) | Q3 FY24 (Dec 31, 2023) | 9M FY25 | 9M FY24 | FY24 (Audited) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 464.31 | 447.75 | 371.43 | 1,319.80 | 1,225.44 | 1,724.92 |
| Total Income | 464.31 | 447.75 | 374.15 | 1,319.80 | 1,238.38 | 1,736.17 |
| Total Expenses | 423.65 | 414.28 | 330.33 | 1,298.08 | 1,106.16 | 1,610.06 |
| Profit Before Tax | 40.95 | 33.17 | 41.07 | 117.52 | 127.22 | 127.42 |
| Net Profit | 30.48 | 25.01 | 30.61 | 87.03 | 94.36 | 131.25 |
| Total Comprehensive Income | 30.61 | 25.14 | 30.67 | 87.43 | 94.53 | 131.33 |
- Revenue for Q3 FY25 stood at ₹464.31 crore, a 24.9% YoY increase from ₹371.43 crore in Q3 FY24.
- Profit Before Tax (PBT) declined 0.3% YoY to ₹40.95 crore.
- Net Profit stood at ₹30.48 crore, reflecting a 0.4% YoY decline compared to Q3 FY24.
Consolidated Financial Performance
(₹ in Crore)| Particulars | Q3 FY25 (Dec 31, 2024) | Q2 FY25 (Sep 30, 2024) | Q3 FY24 (Dec 31, 2023) | 9M FY25 | 9M FY24 | FY24 (Audited) |
|---|---|---|---|---|---|---|
| Revenue from Operations | 727.97 | 698.91 | 511.83 | 2,097.66 | 1,615.17 | 2,356.74 |
| Total Income | 731.81 | 702.01 | 513.88 | 2,105.65 | 1,617.72 | 2,357.51 |
| Total Expenses | 669.24 | 653.58 | 462.07 | 1,933.20 | 1,438.40 | 2,099.94 |
| Profit Before Tax | 58.57 | 51.82 | 51.82 | 172.95 | 167.03 | 240.77 |
| Net Profit | 48.50 | 44.09 | 41.86 | 148.28 | 137.73 | 195.15 |
| Total Comprehensive Income | 52.91 | 46.43 | 44.75 | 148.28 | 137.73 | 195.15 |
- Consolidated revenue jumped 42.3% YoY to ₹727.97 crore in Q3 FY25.
- Net Profit increased 15.9% YoY to ₹48.50 crore.
- The company’s subsidiary, Panol Industries RMC, FZE, reported total revenue of ₹267.74 crore in Q3 FY25 and a net profit of ₹18.02 crore.
Management Commentary
The company's Board of Directors expressed confidence in its growth trajectory despite minor fluctuations in profitability. The financial performance was driven by higher revenue from specialty petroleum products, its core business segment, which does not require segmental reporting under Ind AS 108.A senior company executive stated:
"Our strong revenue growth is a testament to the growing demand for our specialty petroleum products. We remain committed to enhancing operational efficiency and maintaining sustainable profit margins."
Auditor's Review
- The statutory auditors, JMR & Associates LLP, conducted a limited review of the financial results in compliance with SEBI Listing Regulations.
- The review report confirmed that the financial statements are free of material misstatements and comply with Indian Accounting Standards.
Strategic Outlook
Panama Petrochem remains optimistic about its performance for the remainder of FY25, focusing on:- Expanding market penetration in the specialty petroleum segment.
- Strengthening its subsidiary's financial contribution.
- Enhancing cost efficiencies and supply chain optimizations.
Stock Performance & Investor Expectations
- The company’s stock (NSE: PANAMAPET) is expected to react positively to the strong revenue growth.
- Investors will closely monitor the net profit trends in the coming quarters.