During the quarter, profit before tax dropped 63.13% to Rs 52.44 crore from Rs 116 crore recorded in corresponding quarter last year.

EBITDA slipped 38.63% to Rs 109.94 crore during the quarter as compared with Rs 179.13 crore in recorded in same quarter last year. EBITDA margin stood at 13.06% in Q3 FY24 as against 14.85% in Q3 FY23.

During the quarter, Pharma & Agrochemical Intermediates and other speciality chemicals (PASC) comprised of 38% of revenue, Phase Transfer Catalys (PTC) and Structure Directing Agents (SDA) comprised 30% and Electrolyte Salts and others comprised 1%.

Chintan Shah, managing director, Tatva Chintan Pharma Chem, said, “The specialty chemical industry continued to remain under pressure during the quarter due to weak demand sentiment and also because of the financial year end for our global customers. However, based on the interactions with our customers worldwide and looking at their forecast for CY24 we at Tatva Chintan are now quite confident to see the business to shift gears from August 2024 onwards. We expect the momentum come back in the quarters going forward.

We continue to grow organically by incorporating innovative ideas across operations, increased our product portfolio across product categories and optimally managed the product mix.”

Tatva Chintan Pharma Chem is an integrated specialty chemical company, present across the value chain manufacturing phase transfer catalyst, structure directing agents, electrolyte salts and pharma & agrochemical intermediates and specialty chemicals.

The scrip declined 2.02% to settle at Rs 1,437.25 on Saturday, 20 January 2024.