Chemplast Sanmar reports Q1 PAT of ₹41 crore

Chemplast Sanmar Ltd., the flagship company of Sanmar Group, has reported ₹41 crore profit after tax (PAT) for the quarter ending June 30, the company said on Saturday.

The city-based company engaged in producing speciality paste PVC (polyvinyl-chloride) had reported ₹29 crore PAT during the year-earlier period.

Total revenues during the quarter under review grew to ₹1,411 crore from ₹960 crore registered in the same period last year, a company statement said.

Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) during the April-June quarter stood at ₹194 crore as against ₹151 crore registered in the corresponding period last year.

"Despite a challenging environment, we delivered another quarter with a strong 47% growth in revenues on a year-on-year basis and 28% growth in EBITDA," company Managing Director Ramkumar Shankar said.

"Our profits are lower than Q4 of FY22 due to the flood of PVC exports from China into India due to the COVID-related lockdowns in that country," he said.

"I would like to highlight that currently, commodity business dominates our sales pie with close to 65% of our sales. In terms of profitability, our speciality vehicle accounts for more than 50% of our EBITDA," he said.

"The demand environment across our product portfolio continues to remain strong," Shankar added.

The medium to long term prospects for our products are positive, with demand growth estimated to outpace growth in supply, the MD said.

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Printable version | Aug 6, 2022 7:50:47 pm |