Kaveri Seed Co Stock Jumps ~1.5% as Loss Narrows in Q4FY22; achieves revenue of Rs54.56 crore

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Kaveri Seed Company Limited, a leading seed company, has reported its financial results for the quarter and year ended March 31, 2022.

The company recorded revenue of Rs54.56 crore in Q4FY22 compared to Rs55.08 crore in Q4FY21. While revenue for FY22 fell 7.29% YoY to Rs915 crore from Rs986.98 crore for FY21.

The company’s EBITDA for Q4FY22 was reported at negative Rs7.10 crore (-7.10) compared to negative Rs7.77 crore (-7.77) in the prior corresponding quarter. For FY22, EBITDA was reported at Rs 238.41 crore compared to FY 334.89 crore for FY21, down 28.81% year-on-year.

The company was able to trim its loss in the quarter under review to Rs13.09 crore from a loss of Rs14.32 crore in Q4FY21. However, for FY22, PAT declined by 31.58% YoY to Rs208.90 crore from Rs305.31 crore for FY21.

In FY22, hybrid rice sales were not encouraging, although the company grew hybrid rice revenue by more than 40% and gained market share. Growth prospects for hybrid rice in FY23 are better than in FY22.

Kaveri Seed Co. is currently trading at Rs579.45 up Rs8.05 or 1.41% from its previous close of Rs571.40 on BSE. The certificate opened at Rs564 and touched the intraday high and low of Rs585 and Rs564 respectively.

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