Comments
Ahmedabad, May 3 Chemicals player Anupam Rasayan Limited posted standalone net profit of ₹51 crore for the quarter ended March 31, 2023, as against ₹45 crore in the corresponding quarter a year ago, indicating 13 per cent growth year-on-year.
Standalone revenues from operations stood at ₹371 crore for the quarter, up 14 per cent from ₹325 crore in the same quarter last year. Total expenses increased 24 per cent on standalone basis to Rs ₹316 crore versus Rs ₹250 crore in the same quarter a year ago. At its meeting held on Wednesday, the company’s Board of Directors has declared 3rd interim dividend of the financial year 2022-23 of Rs ₹1.50 or 15 per cent per share of face value of Rs 10 each. Also, the board has fixed the record date for the payment of 3rd interim dividend as May 15, 2023 and payment date on or before June 01, 2023.
On consolidated basis, company’s net profit stood at Rs 73 crore up from Rs 46 crore in the same quarter last year. The standalone revenues stood at Rs 480 crore, up from Rs 325 crore in the corresponding quarter last year.
For the financial year 2022-23, company’s standalone net profit stood at Rs 169 crore, up 12 per cent from Rs 151 crore in the previous year. Standalone revenues from operations for the year stood at Rs 1284 crore as against Rs 1074 crore last year.
Anand Desai, Managing Director, Anupan Rasayan, said, “We have continued our growth momentum with 49 per cent YoY revenue growth on the back of new products commercialized during the year as well as steady growth of the organic portfolio.”
The company has continued its focus on adding more value-added products besides bringing financial efficiencies. “We have already started witnessing the results of the same which is visible in stable margins and improved working capital resulting in strong cash generation of Rs 244 crore from operations,” Desai said.
“As we stand, we have signed contracts and LOIs of Rs 5,483 crore giving us a strong revenue visibility for the coming years. At the same time, we are witnessing a robust traction in customer engagement as we remain in advance stage of discussions with customers across geographies for many niche and high value molecules. All these factors give us a reassurance of sustained robust growth in FY24,” he added.
Anupam Rasayan shares ended positive with gains of 2.37 per cent to close at Rs 1211.20 on BSE Wednesday.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.