Laxmi Organic Industries Ltd
NSE:LXCHEM
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Laxmi Organic Industries Ltd
NSE:LXCHEM
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Laxmi Organic Industries Ltd
Laxmi Organic Industries Ltd. engages in the manufacture of acetyl and specialty intermediates. The company is headquartered in Mumbai, Maharashtra and currently employs 679 full-time employees. The company went IPO on 2021-03-25. The firm primarily manufactures ethyl acetate, acetic acid and diketene derivative products (DDP). Its business segments include Acetyl Intermediates and Speciality Intermediates. Its Acetyl Intermediates unit produces a range of acetyl products, including bulk solvents and aldehydes. Its acetyl products have applications in various industries, such as pharmaceutical formulations, printing inks, adhesives, coatings. The company is a manufacturer of Speciality Intermediates, such as ketene and diketene derivatives, including esters, amides and arylides. Its specialty products have applications in pharmaceuticals, synthesis and manufacturing of agrochemicals and pigments, among others. Its operations and global footprint covers customers in over 30 countries, including Argentina, Armenia, Austria, Belgium, China, Cyprus, the Czech Republic, France and Germany, among others.
Laxmi Organic Industries Ltd. engages in the manufacture of acetyl and specialty intermediates. The company is headquartered in Mumbai, Maharashtra and currently employs 679 full-time employees. The company went IPO on 2021-03-25. The firm primarily manufactures ethyl acetate, acetic acid and diketene derivative products (DDP). Its business segments include Acetyl Intermediates and Speciality Intermediates. Its Acetyl Intermediates unit produces a range of acetyl products, including bulk solvents and aldehydes. Its acetyl products have applications in various industries, such as pharmaceutical formulations, printing inks, adhesives, coatings. The company is a manufacturer of Speciality Intermediates, such as ketene and diketene derivatives, including esters, amides and arylides. Its specialty products have applications in pharmaceuticals, synthesis and manufacturing of agrochemicals and pigments, among others. Its operations and global footprint covers customers in over 30 countries, including Argentina, Armenia, Austria, Belgium, China, Cyprus, the Czech Republic, France and Germany, among others.
Revenue Decline: Laxmi Organic's Q3 revenue fell nearly 9% year-on-year, reflecting ongoing challenges in the chemical sector.
Profit Impacted: EBITDA dropped 33% and PAT decreased to INR 25 crores from INR 29.3 crores, mainly due to price moderation and cost increases.
Specialties Weakness: Specialties revenue declined 30% year-on-year, impacted by price drops, a phased-out agrochemical product, and absence of last year's one-time campaign product.
Input Cost Update: Acetic acid prices, a key input, have rebounded from recent lows, supporting improved ethyl acetate spreads.
Capacity Expansions: Dahej Phase 1 is operational; Phase 2 is on track to complete by end of Q4, with ramp-up and customer qualification expected through FY '27 and FY '28.
Guidance Cautious: Management struck a cautious tone, expecting gradual improvement but emphasizing the need to monitor market conditions quarter-by-quarter.
