Company’s PAT crosses Rs 100 crores for the first time in 9MFY23
Hyderabad, February 2023– Speciality Chemicals manufacturer Vishnu Chemicals Limited on Friday posted consolidated net profit of ₹32 crore for the December quarter, up 29 per cent year-on-year, driven by the growth for performance-enhancing speciality chemicals.
Nine months consolidated PAT stood at ₹101 crore, up 91 percent compared to ₹53 crore in the corresponding nine months last year. This is the first time that the Company has crossed Rs 100 crores PAT since inception.
On standalone basis, the company posted net profit of ₹32 crore (₹20 crore in same quarter last year) on revenues of ₹304 crore (₹259 crore).
The Company has received an enabling approval from its Board and Committee to raise funds for an amount up to ₹ 300 crores.
Revenues and PAT up
The company’s consolidated revenues stood at ₹331 crore for the December quarter, up 11 per cent from ₹299 crore in the corresponding quarter last year.
The Company demonstrated resilient growth and consistent margin expansion with promising outlook for future quarters.
Mr. Siddartha Cherukuri, Joint Managing Director of Vishnu Chemicals, said, “With one quarter to go, 9MFY23 consolidated PAT is 24% more than full year FY22 PAT. Our margins have expanded consistently in the last eight quarters.”
Vishnu Chemicals reported PAT margin of 9.5 percent, its highest ever.
According to Mr. Krishna Murthy Cherukuri, CMD of the company, “Our market share is expanding due to our multi-site capabilities, manufacturing focus, procurement strategies and balanced approach to improve our profits.”
“The growth is driven by stable demand and highly efficient production processes. The Company is adopting environmental friendly and sustainable process improvements in its manufacturing process,” added Mr. Murthy.
Consolidated EBITDA for the quarter stood at ₹58 crore as compared to ₹46 crore in the same quarter last year, a growth of 26 per cent.