Gujarat Ambuja Exports

Stock Opportunities
#153

Q3 Results are out - Maize margins have improved and Agro is in Black now:

Division Q3FY23 Q2FY23 Q1FY23 Q4FY22 Q3FY22 Q2FY22 Q1FY22
Revenue
Cotton Yarn 4 12 5 62 74 58 48
Maize 753 789 792 793 684 629 538
Agro 372 275 474 398 478 462 436
All three segments 1,128 1,076 1,270 1,254 1,236 1,236 1,022
EBIT
Cotton Yarn -6 -7 -4 -6 2 0 -1
Maize 121 99 117 188 124 127 110
Agro 1 -15 51 41 35 24 47
All three segments 116 77 165 223 161 151 157
EBIT Margin
Cotton Yarn -137.6% -56.8% -78.4% -9.2% 3.0% 0.5% -1.2%
Maize 16.0% 12.5% 14.8% 23.7% 18.2% 20.2% 20.4%
Agro 0.2% -5.6% 10.7% 10.2% 7.2% 5.1% 10.8%
All three segments 10.3% 7.1% 13.0% 17.8% 13.0% 12.2% 15.3%
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#154

What is the reason for the constant revenue in the maize segment in the past few quarters?

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#155

I think the top line is driven more by commodity prices; so, I focus more on the margins…hope Q2 was cyclical low.

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