Vinati Organics Ltd., an Indian specialty chemicals and organic intermediates manufacturer has reported its financial results for the period ended March 31, 2021.
Q4 Results
For the quarter, the company has posted a net profit of Rs 70.84 crores ($9.7 million), a 5.1% decline as against Rs 74.62 crores ($10.2 million) during the prior-year quarter.
Net sales grew by 9.5% to Rs 286.32 crores ($39 million) for the quarter ended March 31, 2020 as compared to Rs 261.55 crores ($35.7 million) during the prior-year quarter.
Full-Year Results
The company’s net profit dropped 19.3% to Rs 269.32 crores ($36.7 million) for the full-year period ended March 31, 2021 as against Rs 333.82 crores ($45.5 million) for the full-year period ended March 31, 2020.
The company has reported net sales of Rs 980.10 crores ($133.6 million) during the full-year period ended March 31, 2021, a 9% decline as compared to Rs 1073.86 crores ($146.4 million) during the full-year period ended March 31, 2020.
Reduced contribution from ATBS (2-Acrylamido-2-methylpropane sulfonic acid) and increased contribution from the lower margin products has resulted in fall in gross and net profit margins.