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Mitsu Chem Plast, one of the largest moulding company, has reported that its net profit has more than doubled to ₹10 crore in the financial year ended March 2021 against ₹4 crore logged in the same period last year, on the back higher realisation.
Revenue was up 28 per cent at ₹178 crore ( ₹139 crore) during last fiscal. Ebitda in the last fiscal was up 50 per cent at ₹24 crore.
The company net profit in the March quarter was up 97 per cent at ₹2 crore while revenue increased 40.54 per cent to ₹52 crore (Rs 37 crore.
Jagdish Dedhia, Chairman, Mitsu Chem Plast said the company has improved profitability with continuous emphasis on plant and process optimisation besides providing innovative solutions to customers through continuous R&D.
Shares of the company were down two per cent at ₹253.75 on Friday.
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