Punjab Chemicals & Crop rallies after Q1 PAT climbs 54% YoY to Rs 21 cr
Profit before tax stood at Rs 27.61 crore in the quarter ended 30 June 2025, up 52.3% as against Rs 18.13 crore recorded in Q1 FY25.
The companys total expenses increased 31.62% YoY to Rs 295.61 crore during the quarter. Finance costs stood at Rs 3.96 crore (down 1.98% YoY), and employee benefit expenses stood at Rs 24.82 crore (up 1.18% YoY) during the period under review.
On the operational front, the company announced that it has signed three exclusive memoranda of understanding (MoUs) with international customers for high-value agrochemical products and intermediates. These products are expected to be commercialized over the next 12 to 18 months.
Punjab Chemicals has also committed Rs 60 crore in strategic investments to set up two new manufacturing blocks at its current site. This move will help meet rising demand for existing products, expand its product line, and serve clients in the Japanese and European markets.
These initiatives will take place over the next two years and will greatly strengthen the company's revenue. Punjab Chemicals expects this segment to grow to Rs 150 crore within the next two to three years, the company stated.
The company is also looking into new locations to support its expanding operations and increasing product range.
Shalil Shroff, management director, said, We are happy to see the success of our product development, R&D, and market access efforts. Our commitment to quality, IP, and delivery is attracting a lot of new customers, and I believe this is just the beginning of a new exciting phase in our journey towards growth and excellence.
Punjab Chemicals & Crop Protection is in the business of performance chemicals.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
6 minutes ago
- Business Standard
Tesla sales slump again in Europe despite revamped Model Y rollout
Registrations of new Tesla cars in several key European markets fell in July, despite a revamp to its signature Model Y, as the EV maker struggles with a backlash against CEO Elon Musk's political views, regulatory challenges and rising competition. Tesla's aging lineup is facing a wave of low-cost EV rivals, especially from China. It is rolling out a revamped Model Y and starting to produce a new, cheaper model, but production of that will only ramp up next quarter, later than initially expected. The brand's registrations - a proxy for sales - fell 86% year-on-year in July to 163 cars in Sweden, 52% to 336 cars in Denmark, 27% to 1,307 in France, 62% to 443 in the Netherlands and 58% to 460 in Belgium, official industry data showed, marking a seventh straight monthly drop in all of those countries. They also fell by 5% to 457 cars in Italy and 49% to 284 in Portugal. Tesla sales dropped by over a third in Europe in the first six months of the year. Norway and Spain bucked the trend, with Tesla's July registrations up 83% and 27% to 838 cars and 702 cars, respectively. Spain recorded a 155% jump in total sales of electrified cars - either battery electric or plug-in hybrid. Tesla's Chinese competitor BYD sold 2,158 cars in Spain in July, almost eight times more than in July 2024. With no more affordable-end vehicles on the horizon until the last three months of the year and the upcoming end of a $7,500 US tax break for EV buyers, Musk acknowledged in July that Tesla could have "a few rough quarters". He said tough automated driving regulations in Europe made it harder to sell the Model Y in some countries, as the vehicle's optional supervised self-driving is "a huge selling point". "Our sales in Europe, we think will improve significantly once we are able to give customers the same experience that they have in the US," he told analysts. Tesla began selling a long-range four-wheel version of the revamped Model Y in Europe in March 2025, while sales of the two rear-wheel drive variants began in May. Model Y registrations in Sweden and Denmark fell by 88% and 49% respectively in July, while they jumped more than fourfold to 715 cars in Norway. Norway, where almost all new cars sold are fully-electric and where Tesla has been the best-selling brand since 2021, has seen a surge in orders for the model since May after the automaker launched 0% interest loans in some Nordic countries to drum up demand. Tesla launched in June a trial robotaxi service in Austin, Texas, using about a dozen Model Y SUVs controlled by its autonomous-driving software. But the roll-out of its self-driving features elsewhere in the US is bogged down because it hasn't received the required permits. Overall car sales were up 20% in Denmark, 6% in Sweden, 48% in Norway, 17% in Spain, 9% in the Netherlands and 21% in Portugal, while they slid 8% in France, 5% in Italy and 2% in Belgium in July, industry data showed. Germany and the UK are expected to release July car sales next week. European automakers Volkswagen, Mercedes-Benz , Stellantis, Renault and BMW have published downbeat second-quarter results, warning of pressure from US import tariffs and falling demand.
Mint
12 minutes ago
- Mint
Global stock index sinks with dollar, bond yields after weak US jobs data
By Sinéad Carew and Samuel Indyk NEW YORK/LONDON -MSCI's global equities index fell on Friday and the dollar took a dive after weaker than expected U.S. jobs data ramped up expectations for Federal Reserve rate cuts in September as investors also considered U.S. President Donald Trump's latest tariff announcements. U.S. Treasury yield moved sharply lower after the Labor Department reported that the U.S. economy added 73,000 nonfarm payrolls last month, below the 110,000 expected by economists surveyed by Reuters. July unemployment rose up to 4.2%. June's job growth was revised sharply lower to 14,000 from 147,000. After the data, traders were betting on a 69% probability for a September rate cut compared with 37.7% on Thursday, according to CME Group's FedWatch tool. "The market is reacting to the possibility of the economy flipping into recession. The weak jobs data is piling on to weak earnings reports and weak guidance from some corporations," said Luke Tilley, Chief Economist, Wilmington Trust. But Tilley said perspective is also important when looking at Friday's moves since the market has risen sharply since around mid-April when Trump announced tariff pauses. Investors may be "repositioning around what had been a really strong run and just taking some chips off the table in light of this morning's data," he said. On Wall Street at 11:32 a.m. the Dow Jones Industrial Average fell 640.77 points, or 1.46%, to 43,488.20, the S&P 500 fell 105.82 points, or 1.66%, to 6,233.84 and the Nasdaq Composite fell 459.00 points, or 2.17%, to 20,663.45. The pan-European STOXX 600 index fell 1.81%, suggesting its biggest daily drop since April 9. MSCI's gauge of stocks across the globe fell 12.34 points, or 1.33%, to 917.28, putting it on track for its biggest daily drop since mid-April. The softer data added to losses for the global index , which was already losing ground after a host of tariff announcements from Trump the day before. Trump ordered tariffs ranging from 10% to 41% on U.S. imports from several major trading partners. He increased duties on Canadian goods to 35% from 25% for all products not covered by the U.S.-Mexico-Canada trade agreement. He said a 25% rate for India's U.S.-bound exports, 20% for Taiwan's, 19% for Thailand's and 15% for South Korea's. However, Mexico got a 90-day reprieve from higher tariffs to allow for deal talks. In currencies, the greenback reversed course to fall sharply after the data due to increased expectations for rate cuts. Earlier it had found support in fading hopes for U.S. rate cuts. The dollar index <=USD>, which measures the greenback against a basket of currencies including the yen and the euro, fell 1% to 99.03. The euro was up 1.11% at $1.1542 while against the Japanese yen , the dollar weakened 1.76% to 148.08. The Bank of Japan held interest rates steady on Thursday and revised up its near-term inflation expectations, but Governor Kazuo Ueda sounded a little dovish in the press conference. Sterling strengthened 0.32% to $1.3247 and the Canadian dollar strengthened 0.44% versus the greenback to C$1.38 per dollar. U.S. Treasury yields plunged after the jobs data and the increase in bets that the Fed will resume interest rate cuts in September. The yield on benchmark U.S. 10-year notes fell 11.9 basis points to 4.241%, from 4.36% late on Thursday while the 30-year bond yield fell 6.6 basis points to 4.8191%. The 2-year note yield, which typically moves in step with interest rate expectations for the Federal Reserve, fell 21.6 basis points to 3.733%, from 3.951% late on Thursday. In energy markets, oil prices fell more than 2% after the jobs data and on the prospects of a possible increase in production by OPEC and its allies. Oil had settled 1% lower on Thursday. U.S. crude fell 2.66% to $67.42 a barrel and Brent fell to $69.72 per barrel, down 2.76% on the day. Elsewhere, gold prices rallied to a one-week high, after the weak jobs report boosted policy easing expectations and fresh tariff announcements also spurred safe-haven demand. Spot gold rose 1.83% to $3,350.10 an ounce.
Mint
12 minutes ago
- Mint
US LNG exports surge in July, LSEG data show
US exports in July close to record Exports to Latin America increase LNG prices in both Asia and Europe fall in July HOUSTON, - Exports of U.S. liquefied natural gas jumped to 9.1 million metric tons in July, marking a sharp increase from June as some plants exited maintenance activities and Venture Global's Plaquemines facility ramped up production, preliminary data from financial firm LSEG showed. The U.S. is the world's largest exporter of LNG and July's output was its third highest on record. This year the U.S. has seen three of its highest ever monthly LNG production figures, according to LSEG data. U.S. LNG shipments could have been higher had its third- largest export facility, Freeport LNG, not experienced several unplanned outages, reporting seven power outages at its plants to the Texas Commission on Environmental Quality during the month of July. Its output fell in July to 1.3 million metric tons from 1.4 MT in June, LSEG data showed. The U.S. could double its LNG export capacity by 2030, based on projects already under construction and expected to get the financial greenlight as the industry builds momentum following U.S. President Donald's Trump's vow to bolster the country's energy industry. This week Venture Global gave a positive final investment decision for its massive 28 million metric tons per annum CP2 facility in Louisiana. In July, Plaquemines, also in Louisiana, exported 1.4 MT of the superchilled gas, compared to 1.2 MT in June, helping the U.S. get to 9.1 MT in July, compared to 8.4 MT in June, LSEG data showed. GAS PRICES FALL IN EUROPE AND ASIA European gas prices fell in July to $11.56 per million British thermal unit from $12.38 per mmBtu in June at the European benchmark Title Transfer Facility in the Netherlands, according to LSEG data. Even so, the softer prices were not enough to deter U.S. LNG exports to Europe, which remained the favored destination. Some 5.25 MT of LNG, or just under 58% of July's total, headed to Europe during July, slightly lower than the 5.53 MT, or 66%, sold in June, LSEG data showed. U.S. exports to Europe could increase in the coming years following a trade deal earlier this week in which the European Union promised to buy $750 billion of U.S. energy over a five-year period. In July, gas prices were also lower in Asia, as the benchmark Japan Korea Marker fell to $12.18 per mmBtu from $12.90 per mmBtu in June. Exports to Asia rose slightly during the month to 1.8 MT, or 20%, of U.S. LNG exports in July, compared to 1.56 MT, or 19%, in June as demand for energy for cooling grew, according to LSEG data. "After lackluster Asian LNG demand for much of 2025 so far, hotter July weather drove some improvement," bankers from Morgan Stanley told their clients in a report on Wednesday. US SELLS MORE LNG CLOSER TO HOME U.S. LNG exports to South America grew in July as the continent faced colder-than-normal seasonal weather. The U.S. sold 1.03 MT, or 11% of its total LNG exports, to Latin America, with cargoes going to Brazil, Argentina, Colombia and Chile. Cargoes were also sold to several Caribbean countries, including Jamaica, Puerto Rico and the Dominican Republic. Egypt continued to import U.S. LNG cargoes, buying eight in July, totaling .59 MT of the superchilled gas. There were also six cargoes with .43 MT of LNG that left U.S. ports in July with no clear destination, signaling they were available for orders. In July, Canada saw its first LNG shipment from a major plant, with the start-up of LNG Canada in Kitimat, British Columbia. That facility is the first North American plant with direct access to the Pacific Ocean and a shorter sail time to Asia. LNG Canada exported four cargoes, or .29 MT of LNG, during July, according to LSEG ship tracking data. This article was generated from an automated news agency feed without modifications to text.
