The shares of Petrochemical stock, specializing in manufacturing and exporting various kinds of Petroleum specialties, jumped 7 percent upon declaring Q3 results and generating Revenue from operations with a 42 percent rise Year on Year (YoY)
Price action
With a market capitalization of Rs. 2,123.33 crores on Friday, the shares of Panama Petrochemicals Limited jumped up to 7.3 percent making a high of Rs. 377 per share compared to its previous closing price of Rs. 351.45 per share.
What Happened
Panama Petrochemicals Limited specializing in manufacturing and exporting various kinds of Petroleum specialties has announced its Q3FY25 results
Its Revenue from operations grew by 42 percent YoY from Rs. 511.8 Crores in Q3FY24 to Rs. 727.9 Crores in Q3FY25 and it grew by 4.1 percent QoQ from Rs. 698.9 Crores in Q2FY25 to Rs. 727.9 Crores in Q3FY25.
Its Net Profit rose 17 percent YoY from Rs. 41.3 Crores in Q3FY24 to Rs. 48.5 Crores in Q3FY25 and it rose by 10.2 percent QoQ from Rs. 44.0 Crores in Q2FY25 to Rs. 48.5 Crores in Q3FY25.
The earnings per share (EPS) for the quarter stood at Rs. 8.02, compared to Rs. 7.29 in the previous quarter and Rs. 6.84 in the same quarter last year.
About the Company
Panama Petrochemicals Limited is a leading manufacturer of petroleum-based products, specializing in lubricants, transformer oils, and industrial fluids. They provide a wide range of high-quality petrochemical products for various industries, including automotive, electrical, and manufacturing.
Product Segments FY24
Panama Petrochemicals manufactures and exports around 80 variants of petroleum specialty products. The majority of its revenue (98 percent) comes from products like liquid paraffin oils, petroleum jelly, rubber process oils, transformer oils, and cable filling compounds. The company also produces paraffin wax, slack wax, and micro wax, which gain about 2 percent of its revenue.
Capex plan
The company has acquired 4.5 acres of land in Thane, Maharashtra, to expand its manufacturing capacity. Its UAE subsidiary is also expanding with a new property at RAK Maritime City Free Zone. The company plans to add 15,000 MTPA at both the UAE and Taloja plants in FY25. A total capex of approximately Rs. 75 crore is planned for FY25-27, to be funded through internal accruals.
Written by Sridhar J
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