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Anupam Rasayan India Ltd on Friday posted consolidated net profit of ₹54 crore for December quarter, up 44 per cent year-on-year, driven by the growth in volumes and price for life science-related specialty chemical products.
On standalone basis, the company posted net profit of ₹39 crore (₹38 crore in same quarter last year) on revenues of ₹286 crore (₹266 crore).
Revenues up
The company’s consolidated revenues from operations stood at ₹383 crore for the December quarter, up 44 per cent from ₹266 crore in the corresponding quarter last year. The company has also announced interim dividend of ₹0.60 or 6 per cent per share of ₹10 each.
The increase in revenue is despite the unavailability of its Unit 6 facility at Sachin GIDC in Surat due to fire incident in September 2022. Anand Desai, Managing Director of Anupam Rasayan, said, “If you adjust the deferred revenue due to capacity constrain then our growth would have been around 25 per cent during the quarter.”
After the revocation of closure order for the plant, the company said it restarted the operations at one of the two plants at the facility and for the other plant, the “company is in process of completing the required formalities and relevant activities and shall be able to restart the plant soon with approval of regulatory authorities,” it said.
Growth factors
Speaking to businessline, Vishal Thakkar, Deputy CFO of the company informed that once fully-restarted the facility would add about ₹50 crore of revenues in the current quarter.
“The growth is coming on three factors. The portfolio mix, the growth in volumes and price and the growth across geographies,” said Thakkar adding that the volume growth has contributed about 55-60 per cent to the overall revenue growth, while the balance has come from price.
Consolidated EBITDA (inclusive of other revenue) for the quarter stood at ₹108 crore as compared to ₹80 crore in the same quarter last year, a growth of 35 per cent.
On quarterly basis, company’s total expenses increased by 47 per cent year-on-year to ₹313 crore, up from ₹212 crore last year. Thakkar informed that the company has comfortable debt levels and the term debt has the EBITDA-to-Debt ratio of 1.5-times.
The company’s India revenues contributed the most 38 per cent, followed by Europe (30 per cent), Singapore and Japan (15 per cent each) and China 3 per cent.
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Anupam Rasayan shares ended nearly flat at ₹597.95, marginally down by 0.3 per cent from previous close on the BSE. The benchmark Sensex fell by 1.45 per cent to end at 59,330.90 points on Friday.
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